A Check Received from a Customer for Which There Are

question 135

Multiple Choice

A check received from a customer for which there are not sufficient funds in the bank to cover the amount of the check is a(n) :

• A)service charge.
• B)error.
• C)nonsufficient funds check.
• D)blank check.

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Definitions:

Price Rises

An increase in the cost of goods or services in the market, often due to factors like inflation, increased demand, or higher production costs.

Equilibrium Price

The price at which the quantity demanded of a good equals the quantity supplied.

Quantity Demanded

Represents the total amount of a good or service that consumers are willing and able to purchase at a given price over a specific period of time.

Shortage Occurs

A market condition where the demand for a product exceeds its supply at a given price, leading to a situation where not all consumer demand can be met.