A Buyer Is _____ If He Cannot Pay His Bills

question 23

Multiple Choice

A buyer is _____ if he cannot pay his bills when they become due.

• A)unconscionable
• B)liquidated
• C)repudiated
• D)insolvent

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Definitions:

Check Register

A personal record book or digital log used to track checks written, deposits made, and the current balance of a checking account.

Outstanding Deposit

A credit that hasn’t yet been recorded by the bank.

Bank Statement

A financial document provided by a bank detailing the account's transactions and balance over a specific time period.

Check Register

A record-keeping tool for tracking all checks written, deposits made, and balances in a checking account, aiding in financial management.