A __________ Is a Predictive Generalization About a Person or Situation

question 36

Short Answer

A __________ is a predictive generalization about a person or situation.

Prepare a statement of Owner's Equity.

Prepare a balance sheet.

Calculate total assets given company accounts.

Calculate total liabilities using given financial information.

---

Definitions:

Presentment Warranties

Guarantees made by the presenter of a negotiable instrument that certain facts are true at the time of negotiation.

Altered Instrument

A legal term referring to a document, particularly a negotiable instrument, that has been illegally modified in a way that changes its original terms.

Collateral

Under Article 9 of the Uniform Commercial Code, the property subject to a security interest.

Impair

To weaken or damage something, especially a legal right, financial value, or physical condition.