In Which of the Following Situations Is the Person Not

question 44

Multiple Choice

In which of the following situations is the person not a holder?

• A)Julie has possession of an instrument "Payable to Martin" that has not been indorsed by Martin.
• B)Sean has possession of a check "Payable to the order of Tonya" which is indorsed with only Tonya's name.
• C)Olsen stole a check that was indorsed in blank.
• D)Wanda found a check "Payable to the order of Cash."
• E)None of these situations involve a holder.

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Definitions:

Administrative Expenses

Overheads and expenses associated with the general operation of a business.

Client-Visits

Refers to the occasions on which a service provider or salesperson visits clients at their location to build relationships, offer support, or close sales.

Planning Budget

A budget designed for a particular level of activity, often used for planning and forecasting purposes.

Direct Labor

Factory labor costs that can be easily traced to individual units of product. Also called touch labor.