If a Check Is Marked "Paid in Full," Which of the Following

question 3

Multiple Choice

If a check is marked "paid in full," which of the following is true under the UCC?

• A)If a business inadvertently cashes such a check,the business has 90 days from the date it cashed that check to offer repayment in the same amount to the debtor and avoid an accord and satisfaction.
• B)If a business inadvertently cashes such a check,the business has 120 days from the date it cashed that check to offer repayment in the same amount to the debtor and avoid an accord and satisfaction.
• C)The business has no recourse,and the debt is deemed discharged and satisfied.
• D)If a business inadvertently cashes such a check,the business has 30 days from the date it cashed that check to offer repayment in the same amount to the debtor and avoid an accord and satisfaction.
• E)If a business inadvertently cashes such a check,the business has 60 days from the date it cashed that check to offer repayment in the same amount to the debtor and avoid an accord and satisfaction.

Recognize the importance of sensory marketing and which sense is targeted by different marketing strategies.

Comprehend the concept of learning in consumer behavior and how it affects decision-making processes.

Identify the role of reference groups, culture, and lifestyle in consumer preferences and decisions.

Understand the principles of Maslow's hierarchy of needs and how they relate to consumer priorities and marketing strategies.

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Definitions:

Absorption Costing

A method of accounting where all manufacturing costs (direct materials, direct labor, and manufacturing overhead) are included in the product cost, making the product more expensive to produce.

Gross Margin

Gross margin is the difference between revenue and the cost of goods sold divided by revenue, expressed as a percentage, indicating the efficiency of turning sales into profit.

Net Operating Income

The total profit of a company after operating expenses are subtracted from total revenue but before taxes and interest are deducted.

Common Fixed Expenses

Fixed costs that are not directly tied to the level of goods or services produced by the business, such as rent, utilities, and salaries of administrative staff.