Solved

Refer to the Scenario Below to Answer the Following Questions

question 100

Multiple Choice

Refer to the scenario below to answer the following questions.
Carol Veldt, owner of Seagull Terrace, watched her investment grow from a small, seaside motel to a thriving year-round resort in just a few years. Atop a bluff overlooking the Maine coast, Seagull Terrace had attracted thousands of visits during the summer months, but then faced a tremendous downturn in business during the winter months. "But, given the industry in the nearby towns, very little year-round competition, and our close proximity to Portland," Carol added, "I couldn't understand why seasonality had to hit Seagull Terrace so hard!"
So Carol spent her first winter devising a new marketing plan. She put together a promotional package designed to attract business travelers year-round. Carol's plan involved a seasonal promotional gimmick to be implemented from early winter to late spring that would attract the same numbers as the large summer crowd. Her idea worked! During her second winter, Carol greeted numerous business travelers both satisfied repeat guests as well as new guests who had been snagged by her promotional appeals.
"We still have a long way to go," Carol admitted. "Our delicatessen offers delicious entrees, but we'd like to expand that. We provide health club privileges off-site, but we'd like to eventually provide our own. These are goals I hope to achieve in a few years. Our first project, however, included a renovation of our guest rooms and I'm quite proud of the results." Carol then added, "Actually there are so many possibilities! With an indoor pool area, I will eventually offer weekend get-aways throughout the winter."
-During her second winter at Seagull Terrace, Carol identified several business travelers who were repeat customers and who were enthusiastic about the value offered by the resort. Carol offered a special discount and reward program for those travelers who made recommendations to friends and colleagues that would lead to new customers for Seagull Terrace. Carol was interested in creating ________.

Definitions:

UCC Article 3

It governs negotiable instruments, including checks and notes, within the Uniform Commercial Code.

Checks

Financial instruments that instruct a bank to pay a specific amount of money from the writer's account to the person or entity in whose name the check has been issued.

Drawer

The party that writes an order, or the person who writes a check.

Payee

The party that receives the benefit of an order (check, etc.).