A Check Becomes Overdue

question 30

Multiple Choice

A check becomes overdue:

• A)30 days after its date.
• B)60 days after its date.
• C)90 days after its date.
• D)after a "reasonable" period of time,in the light of trade practice.

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Definitions:

APC

In economics, it stands for Average Propensity to Consume, indicating the fraction of income that is spent.

Disposable Income

Resources households have at their disposal for saving and expenditure once income taxes have been accounted for.

Marginal Propensity

Typically refers to the marginal propensity to consume (MPC), which is the proportion of an additional income that a consumer spends on goods and services as opposed to saving it.

Disposable Income

The income available for saving and spending after the deduction of income taxes from earnings is known as disposable income.