Barry Draws a Check Payable to "Cash" and Presents It

question 54

Multiple Choice

Barry draws a check payable to "Cash" and presents it to Dollars & Sensestore for payment. This instrument is

• A)a bearer instrument.
• B)an order instrument.
• C)valid but nonnegotiable.
• D)void.

---

Definitions:

Long Form

Refers to more detailed versions of documents or forms that require extensive information, such as the IRS 1040 form for taxes.

1040 Form

A standard IRS form used by individuals to file their annual income tax returns.

Interest Income

Earnings from investments in savings accounts, bonds, CDs, or other interest-bearing accounts.

Exemptions

Exemptions are deductions allowed by the government on taxable income, reducing the overall amount of taxes owed by individuals or entities.