Which of the Following Is True Regarding Liability on Negotiable

question 45

Multiple Choice

Which of the following is true regarding liability on negotiable instruments?

• A)Issuers and acceptors are primarily liable for a negotiable instrument,while drawers and endorsers are secondarily liable.
• B)Drawers and endorsers are primarily liable,while issuers and acceptors are secondarily liable.
• C)Issuers and drawers are primarily liable,while acceptors and endorsers are secondarily liable.
• D)Drawers are primarily liable,while issuers,acceptors,and endorsers are secondarily liable.
• E)Acceptors and endorsers are primarily liable,while issuers and drawers are secondarily liable.

Grasp the necessity of ensuring total debits and credits are equal in a columnar journal before posting.

Identify the appropriate journal for recording various types of transactions.

Define and understand the concept of a business segment.

Recognize the differences in the sales journal under perpetual and periodic inventory systems.

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Definitions:

Dance Studio

A designated space or facility used for the teaching, practice, and performance of dance.

Commercial Activities

Business operations or transactions aimed at generating profit, including goods or services provided to consumers.

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Local government laws that dictate how property in specific geographic zones can be used.

Eminent Domain

The right of a government to seize private property for public use, with fair compensation to the owner.