Acme Engineering Needed Cash and on March 14 Assigned a Block

question 99

Multiple Choice

Acme Engineering needed cash and on March 14 assigned a block of its accounts receivable to Wellington Finance Company.On March 21,it assigned another block to Bagot Finance Company.By an oversight,the second block contained an account,a receivable from Smith,that Acme had already assigned to Wellington.The notice of assignment from Bagot arrived at the Smith offices on March 24,and Wellington's notice arrived on March 28.What is the most correct action that Smith should take?

• A)Pay any demand of Acme made on March 16 or 23;pay any demand of Bagot on or after March 24.
• B)Pay any demand of Acme made on March 13;pay any demand of Wellington on or after March 28.
• C)Refuse to pay all Bagot demands.
• D)Refuse to pay all Acme demands made after March 14.
• E)Refuse to pay all Acme demands made after March 21.

---

Definitions:

Confidence Interval

A range of values, derived from sample data, that is likely to contain the value of an unknown population parameter, with a certain degree of confidence.

Population Mean

The average of a set of values for the entire population.

Significance Level

In statistical hypothesis testing, it is the probability of rejecting the null hypothesis when it is true, often denoted by alpha (α).

Sample SD

Standard deviation of a sample, a measure of the spread or dispersion of a set of data points within that sample.