Which of the Following Is the Best Example of an Intermediate

question 152

Multiple Choice

Which of the following is the best example of an intermediate good?

• A)the flowers Mr.Grover buys at a local nursery
• B)the flowers that Timmy Grover,age three,brought Mrs.Grover after he picked them from a neighbor's garden
• C)the flour Grandma Grover buys to make a birthday cake
• D)the flour that Joe buys so that he can eat pizza three nights a week
• E)the flour Amy orders each month for the bakery she manages

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Definitions:

Presentment

The formal presentation of a financial instrument, such as a check, for payment.

Bankruptcy

A legal proceeding involving a person or business that is unable to repay their outstanding debts, leading to the disposition of assets to pay creditors.

Primary Liability

The obligation to pay a debt or fulfill a contractual obligation first, before any secondary parties are called upon.

Indorsers

Individuals who sign their names on the back of negotiable instruments, like checks or promissory notes, transferring their rights to another party.