A Payee or Indorsee Whose Name Is Misspelled May Indorse

question 55

True/False

A payee or indorsee whose name is misspelled may indorse the wrong name,the correct name,or both.

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Definitions:

Salary Deferral Plan

A type of retirement plan where employees opt to defer a portion of their salary, which is then invested on a pre-tax basis until withdrawal at retirement.

Compounded Semi-Annually

A method of calculating interest where the accrued interest is added to the principal amount twice a year, leading to interest on interest.

Month-End Contributions

Payments or deposits made towards an account or investment, typically recorded at the end of the month.

Monthly Payments

Monthly Payments are regular payments made once a month, commonly associated with loans or leases.