Which of the Following Is True Regarding Negotiable Instruments in the European

question 47

Multiple Choice

Which of the following is true regarding negotiable instruments in the European Union?

• A) If a transaction is defined as a negotiable instrument within a certain country, it must conform to certain general characteristics outlined by the European Economic Council.
• B) The European Economic Council adopted the UCC as the law in regard to negotiable instruments in all member countries of the European Union.
• C) The European Economic Council adopted the UCC as the law in regard to negotiable instruments in all member countries of the European Union unless a member country has specifically opted out.
• D) The European Economic Council suggests the UCC as the law in regard to negotiable instruments in all member countries of the European Union; but in order for it to be applicable, a member country must specifically affirm adoption of the UCC.
• E) Negotiable instruments are not recognized.

---

Definitions:

Flexible Benefits

A program that allows employees to choose from a range of benefit options.

Employee Benefits

Various types of non-wage compensation provided to employees in addition to their normal wages or salaries.

Dollar Amount

The total monetary value or cost expressed in units of currency, often used to specify prices, costs, and financial transactions.

Base Compensation

The initial salary or wage provided to an employee not including benefits, bonuses, or any form of variable compensation.