On May 1, Doug Signs a Check That Is Payable

question 21

Multiple Choice

On May 1, Doug signs a check that is payable to the order of Excel Credit Corporation and that is dated July 1. This check is

• A) negotiable.
• B) nonnegotiable, because it is payable to Excel Credit Card Corporation.
• C) nonnegotiable, because it is postdated.
• D) nonnegotiable, because it is signed by Doug.

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Definitions:

Wealth-Reducing Activities

Activities that diminish the value of assets or the net worth of individuals or entities.

Shift

A change in position or direction, often used in economics to describe a movement in supply or demand curves in response to external factors.

Electronic Components

Components such as resistors, capacitors, diodes, and transistors used in the creation of electronic circuits.

Relatively Elastic

Refers to a situation where the quantity demanded or supplied of a good changes significantly in response to changes in price.