A Blank Indorsement Indicates the Person to Whom the Instrument

question 38

True/False

A blank indorsement indicates the person to whom the instrument is to be paid-that is, the transferee.

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Definitions:

General Journal

A bookkeeping ledger that records every business transaction in chronological order.

Cash Payment

The transfer of money, either physically or electronically, to settle a debt or complete a purchase.

Cash Receipts

All cash inflows, representing money received by a business during a specific period.

Cash Disbursements

Money paid out by a business, including expenses, debt payments, and purchase of assets.