Jen Signs a Check "Pay to the Order of Kev

question 51

Multiple Choice

Jen signs a check "pay to the order of Kev" drawn on Jen's account in Little Bank to buy Kev's car.Jen asks Little Bank to indicate on the face of the check that it will accept it when Kev presents it for payment.If the bank agrees,this will be

• A)a cashier's check.
• B)a certified check.
• C)a trade acceptance.
• D)a traveler's check.

Analyze the significance of financial market transactions and their classification.

Understand the considerations involved in selecting a business form, including taxation, liability, and capital raising.

Identify sources of authority and legitimacy in social structures.

Recognize the role of rationalization in organizational efficiency.

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Definitions:

Destroy Incentives

To eliminate or significantly reduce the motivations or reasons for individuals or entities to take a particular action or endeavor.

Society's Resources

The total means available to a society, including natural resources, human capital, and manufactured goods, used for production and consumption.

Free-Market System

An economic system where prices for goods and services are determined by the open market and consumers, in which the laws and forces of supply and demand are free from any intervention by a government, price-setting monopoly, or other authority.

Wage

The amount of money paid to an employee by an employer in exchange for work performed, usually expressed on a per-hour, per-day, or per-project basis.