When Is a Demand Instrument,such as a Check,payable

question 43

Multiple Choice

When is a demand instrument,such as a check,payable?

• A) As soon as it is issued.
• B) Twenty-four hours after it is issued.
• C) Two days after it is issued.
• D) At midnight the day it is issued.
• E) One hour after it is issued.

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Definitions:

Net Income

The total profit of a company after all expenses, taxes, and deductions have been subtracted from total revenue.

Balance Sheet

A financial statement that provides a snapshot of a company's financial condition at a specific time, showing assets, liabilities, and shareholder equity.

Vertical Integration

A method by which a firm broadens its activities to cover multiple points within its production sequence, like when a manufacturing entity possesses its supplier and/or distribution channels.

Ethical Supply Management

The practice of ensuring that the supply chain operations adhere to ethical standards, including fairness, sustainability, and respect for human rights.