On August 1,1990,Lisa Wrote a Check for $100 Payable to the Order

question 44

Multiple Choice

On August 1,1990,Lisa wrote a check for $100 payable to the order of her sister,Marcia.Marcia misplaced the check and found it in May 1991,when she attempted to cash it.Under these circumstances:

• A)the bank must honor the check.
• B)the bank cannot pay the check out of Lisa's account without Lisa's written permission.
• C)the bank may,in good faith,pay the check and charge it to Lisa's account.
• D)the check is no longer valid because it is a stale check.

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Definitions:

Sellers' Total Revenue

The total amount of money received by sellers from selling a certain amount of goods and services.

Total Revenue

The complete revenue a firm earns from its sales of products or provision of services within a given period.

Elastic Demand

A situation in which the quantity demanded of a product changes significantly in response to changes in the product's price.

Total Revenue

The total amount of money generated by a firm from selling goods or services within a specific period.