Quick Corp

question 26

Multiple Choice

Quick Corp.has $270,000 of outstanding accounts receivable.On March 10,1988,Quick assigned a $30,000 account receivable due from Pine,one of Quick's customers,to Taft Bank for value.On March 30,Pine paid Quick the $30,000.On April 5,Taft notified Pine of the March 10 assignment from Quick to Taft.Who is Taft entitled to collect the $30,000 from?

• A)Either Quick Corp.or Pine
• B)Quick Corp.only
• C)Pine only
• D)Taft Bank cannot claim any money because it notified Quick Corp.too late

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Definitions:

Initial Price

The starting price at which a product, asset, or service is first offered to the market.

Skimming Pricing Policy

A pricing strategy where a high price is set for a new product to maximize profits from market segments willing to pay more.

High Quality

Describes products or services that meet or exceed consumer expectations and standards in performance, durability, and satisfaction.

Price-sensitive

Referring to the characteristic of consumers whose buying decisions are greatly influenced by the price of a product or service.