Any Person Authorized to Sign a Check May Stop Payment

question 38

True/False

Any person authorized to sign a check may stop payment on it,even if he or she did not sign the check in question.

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Definitions:

Cash Transaction

A financial exchange involving the immediate payment of cash for the purchase of goods or services.

Accumulated Depreciation

The cumulative sum of depreciation expense allocated for a physical asset from the time it was first used.

Disposal

The elimination of an asset from the balance sheet, typically due to sale, loss, or obsolescence.

Machinery

Physical assets used in a business operation to manufacture or produce goods.