Fact Pattern 18-2 Jake Is the Maker of a $2,000 Promissory Note Payable

question 47

Multiple Choice

Fact Pattern 18-2
Jake is the maker of a $2,000 promissory note payable to Kim. Kim indorses the note to Lou who, in turn, indorses it to Mona, who then in¬dorses it to Nat, the present holder.
-Refer to Fact Pattern 18-2.Suppose that Mona pays Nat on the note.With timely notice to the proper parties,Mona may collect payment on the note from

• A) Jake, Kim, or Lou.
• B) Jake or Kim only.
• C) Lou only.
• D) no one.

Understand the concept and calculation of direct materials variances, including materials price and quantity variances.

Analyze and calculate the direct labor variances, including labor efficiency and rate variances.

Understand the computation and significance of variable manufacturing overhead variances, including both efficiency and rate variances.

Determine the standard costs of direct materials, labor, and manufacturing overhead for a product.

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Definitions:

Stress

A state of mental or emotional strain or tension resulting from adverse or demanding circumstances.

Diathesis-Stress Model

A psychological theory that explains behavior as both a result of biological and genetic vulnerability and environmental stress factors.

Psychological Functioning

Refers to the mental processes and behaviors that include cognitive capabilities, emotional states, and social behavior.

Inherent Vulnerable

A state of being naturally exposed or susceptible to being harmed or adversely affected due to intrinsic characteristics or conditions.