O'Shea Issues a Check Drawn on Prime Bank to Quality

question 72

Multiple Choice

O'Shea issues a check drawn on Prime Bank to Quality Equipment Supply to pay for a backhoe. Later,O'Shea discovers a defect in the backhoe and orders the bank to stop payment on the check. O'Shea does not renew the order,and the bank clears the check eight months later. The bank

• A)must recredit O'Shea's account.
• B)must obtain funds from Quality to cover the amount of the check.
• C)must substitute acceptable goods.
• D)need not recredit O'Shea's account.

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Definitions:

Syndicated Data

Data available for a fee from commercial research firms such as Information Resources Inc. (IRI), National Purchase Diary Panel, and Nielsen.

Sample

A group of customers who represent the customers of interest in a research study.

Marketing Research

Marketing Research involves gathering, analyzing, and interpreting information to aid in making informed marketing decisions.

Bookkeeping Service

Involves the recording of financial transactions and is part of the process of accounting in business, ensuring accurate financial records are kept.