If Negotiable Instrument Is Not Accepted When Presented,if It Is

question 14

Multiple Choice

If negotiable instrument is not accepted when presented,if it is not paid when presented for payment at maturity,or if presentment is excused or waived and the instrument is past due and unpaid,then it is considered:

• A) ineligible.
• B) defunct.
• C) dishonored.
• D) abandoned.

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Definitions:

Compounded Annually

Interest calculation method where the interest is added to the principal at the end of each year, affecting the next year's interest.

Initial Payment

The first payment made in a series of payments for the purchase of an item or service.

Retirement Plans

Retirement plans are financial strategies that include saving, investment, and eventual distribution of funds meant to sustain one's living expenses after retiring from work.

Compounded Monthly

Compounded Monthly refers to the process of calculating interest on both the initial principal and the accumulated interest from previous periods on a monthly basis.