Which of the Following Characterizes Assignability

question 56

Multiple Choice

Which of the following characterizes assignability?

• A) An assignment is ineffective if it occurs in the present.
• B) An assignment is ineffective in the case of land rights.
• C) An assignment is ineffective when contrary to public policy.
• D) An assignment is mostly effective in the case of wage earners.

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Definitions:

Cash Over

A situation where the amount of cash on hand is greater than the expected amount, indicating possible errors or oversight.

Cash Short

A situation where the actual cash on hand is less than the expected amount, often due to errors or theft.

Income Statement

A financial statement that provides a summary of a company's revenues, expenses, and profitability over a specific period.

Petty Cash Receipts

Petty cash receipts are documents that record the disbursements made from a petty cash fund for small, incidental expenses.