The Acquisition and Payment Process Consists of Each of the Following

question 31

Multiple Choice

The acquisition and payment process consists of each of the following phases except

• A)receipts of goods and services.
• B)approval of items for payment.
• C)application of cash receipts.
• D)authorized request for goods and services.

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Definitions:

Merchants Bancorp

An American banking company involved in providing banking and financial services.

Holder In Due Course

A person who acquires a negotiable instrument in good faith and for value, thus having certain protections against defenses and claims.

Assignee

The party to whom rights or property are transferred in an agreement.

Transferor

An individual or entity that transfers its rights or properties to another.