A ___________ Draft Is Initiated by the Payee,who Has Been

question 1

Multiple Choice

A ___________ draft is initiated by the payee,who has been approved to draw against the payor's account.

• A)payable through
• B)sight
• C)preauthorized
• D)depository

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Definitions:

Reorganization

In bankruptcy law, a plan created by a qualified debtor that alters his or her repayment schedule and allows the debtor to stay in business.

Involuntary Bankruptcy

A legal process initiated by creditors to force a debtor into bankruptcy proceedings, typically in order to recover debts that are not being paid.

Vulcan Co.

could refer to a fictional or specific company not widely recognized without additional context; without more information, a precise definition is not possible.

2005 Bankruptcy Act

A significant reform of bankruptcy law aimed at making it more difficult for individuals to file for bankruptcy protection under Chapter 7 and encouraging Chapter 13 filings.