Clint Wrote a Check to Pay for His Phone Bill

question 65

Multiple Choice

Clint wrote a check to pay for his phone bill.The amount of the bill was $50.He wrote out the words "Fifty dollars only" but he also wrote "$60" in the area for numbers.As a result,the check:

• A)is disqualified as a negotiable instrument.
• B)qualifies as a negotiable instrument,and the payee can collect $50.
• C)qualifies as a negotiable instrument,and the payee can collect $60.
• D)is disqualified as a negotiable instrument,unless Clint's intent is ascertained.

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Definitions:

Long-Term Investments

Investments in stocks, bonds, or other assets that a company intends to hold for more than one fiscal year.

Interest Revenue

Income earned from lending money or investing in interest-bearing financial instruments.

Free Cash Flow

Cash Flows from Operating Activities less Dividends less Capital Expenditures.

Operating Activities

The primary revenue-producing activities of an entity and other activities that are not investing or financing activities.