Assume That on January 1 a Firm Announces That on June

question 98

Multiple Choice

Assume that on January 1 a firm announces that on June 30 they will pay a dividend of $2.50 per share to holders of record on March 30.When does the share sell ex-dividend?

• A)January 5
• B)April 5
• C)March 28
• D)July 5
• E)June 25

---

Definitions:

Bad-Check Statute

Laws that penalize individuals who knowingly write checks from a bank account without sufficient funds.

Drawee Bank

The bank upon which a check is drawn, responsible for paying the check amount to the bearer or designated payee.

Drawer

The party who draws a draft, that is, the party who orders that the money be paid.

Payee

The party named in a note or draft to whom payment is to be made.