Revised UCC Article 3 Refers to Which of the Following

question 41

Multiple Choice

Revised UCC Article 3 refers to which of the following parties as secondary obligors?

• A) drawers
• B) indorsers
• C) accommodation parties
• D) all of the above

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Definitions:

Future Value

The equivalent value of an asset or money at a future date, which equals a certain present-day amount.

Interest Rate

The percentage at which interest is charged or paid on a sum of money, often expressed annually.

Cash Flows

Cash flows refer to the net amount of cash and cash-equivalents being transferred into and out of a business.

Quarterly Savings

Savings accumulated or set aside at the end of every quarter of the fiscal year.