Time Inc Has Published a New Magazine, All You, Which Is

question 20

Multiple Choice

Time Inc. has published a new magazine, All You, which is distributed only in Walmart stores. Who is the ultimate consumer for this magazine?

• A)the person who buys the magazine to read at home
• B)the person who stocks the magazine rack at Walmart
• C)the person who browses the magazine in the store but does not buy it
• D)the salesperson for Time Inc. who sold the magazine to Walmart
• E)All people, from the writer, to the seller, to the reader at home, are the ultimate consumers.

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Definitions:

Proper Presentment

Proper Presentment is a legal term referring to the formal presentation of a negotiable instrument, like a check, to the party liable on the instrument, for payment or acceptance.

UCC

A thorough set of legal guidelines for the governance of commercial transactions in the United States is provided by the Uniform Commercial Code.

Clearinghouse Procedure

A process handled by a clearinghouse, which acts as an intermediary between buyers and sellers in financial markets, ensuring the smooth execution of transactions.

Drawer Liability

Drawer liability pertains to the legal responsibility of the person who writes or signs a check or draft to ensure the availability of sufficient funds in the account for the amount specified for payment.