Ranjit Currently Has Possession of a Cheque That Was Created

question 9

Multiple Choice

Ranjit currently has possession of a cheque that was created by Maura.Although Maura created that cheque on January 1, the instrument is dated June 1.The cheque originally was payable to Nora.The cheque now bears endorsements by Nora and Shelley.Maura, Nora, Shelley, and Ranjit are the only parties that have dealt with the cheque.Which of the following statements is TRUE?

• A)Ranjit may be a holder in due course even if he did not personally provide consideration to anyone.
• B)Ranjit cannot be a holder in due course if today's date is July 1.
• C)Ranjit cannot be a holder in due course unless Shelley was a holder in due course.
• D)Ranjit cannot be a holder in due course if he received the cheque when it was in bearer form.
• E)Maura may be the drawee of the cheque.

Identify and correct common grammatical errors such as sentence fragments, run-on sentences, and comma splices.

Differentiate between active and passive voice and understand their uses in business writing.

Recognize and apply parallel structure in sentences.

Understand the importance of organization in business writing and strategies to achieve clarity and conciseness.

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Definitions:

Fair Value

The estimated market value of an asset or liability, based on current market conditions.

Comparability

A financial accounting principle that enables users to easily evaluate one company's financial statements alongside those of another.

Companies

Business entities formed to engage in commercial, industrial, or professional activities, either for profit or non-profit purposes.

Investment in Bonds

The purchase of bonds with the aim to earn interest income over time and potentially benefit from appreciation in bond value.