Fact Pattern 25-1B

question 38

Multiple Choice

Fact Pattern 25-1B
Belle obtains a check payable to her order from Charmayne.Belle signs the back and adds the notation "without recourse."
-Refer to Fact Pattern 25-1B.When Belle signs the back and adds the notation "without recourse," the check becomes

• A)a bearer instrument.
• B)an order instrument.
• C)a promissory note.
• D)a nonnegotiable instrument.

Understand and calculate weighted averages for forecasting purposes.

Apply knowledge of forecasting methods to interpret and evaluate sales data.

Understand and apply the accounting equation and its components (assets, liabilities, equity).

Analyze and prepare basic financial statements (income statement, balance sheet, statement of retained earnings).

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Definitions:

Negligent Conduct

Behavior that falls below the standards of care established by law for the protection of others against unreasonable risk of harm.

Duty of Care

A legal obligation requiring individuals to exercise a reasonable standard of care while performing acts that could foreseeably harm others.

Intentional Conduct

Describes actions undertaken with the aware intent to cause a particular result or outcome.

Legal Imperialism

American insistence that all disputes be resolved under American law.