Which of the Following Was the Result in Samuel James

question 29

Multiple Choice

Which of the following was the result in Samuel James Thompson v.First Citizens Bank & Trust Co.,the case in the text in which the parties disagreed as to whether an instrument referenced as a certificate of deposit was actually negotiable?

• A) The court ruled that the instrument was negotiable.
• B) The court ruled that the instrument was not negotiable because it clearly stated that it was non-transferable.
• C) The court ruled that the instrument was not negotiable because it lacked the signatures of both parties.
• D) The court ruled that the instrument was not negotiable because it lacked the signature of a bank representative.
• E) The court ruled that the instrument was not negotiable because it contained a condition precedent and was not an unconditional order to pay.

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Definitions:

Debit

An accounting entry that results in either an increase in assets or a decrease in liabilities on a company’s balance sheet.

Labour Efficiency Variance

The difference between the actual hours worked and the standard hours allowed for the work performed, often used to assess workforce productivity.

Material Price Variance

The difference between the actual cost of materials and the expected (standard) cost, multiplied by the quantity of materials purchased.

Deliberate Inefficiency

Intentionally lowering productivity or efficiency for strategic reasons, such as reducing the risk of job cuts.