It Is Important to Promptly Notify the Obligor That an Assignment

question 19

Multiple Choice

It is important to promptly notify the obligor that an assignment has occurred.Why?

• A)It is a necessary requirement for a valid assignment.
• B)The obligor might perform to the assignor rather than the assignee.
• C)The obligor's duty to perform is completely discharged.
• D)If the obligor neither knew nor had reason to know about the assignment,the obligor remains liable to the assignee.

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Definitions:

LIFO Method

An inventory valuation method that assumes the last items placed in inventory are the first sold during an accounting year.

Cost of Goods Sold

The direct costs attributable to the production of the goods sold by a company, including materials, labor, and overhead.

Weighted-Average

A calculation that takes into account the varying degrees of importance of the numbers in a data set, giving more weight to some numbers than others.