Jen Makes a Gift of a Check to Kilroy Who

question 37

Multiple Choice

Jen makes a gift of a check to Kilroy who takes it in good faith and without notice of any claim,defense,or defect.With respect to this check,Kilroy is

• A)an extraordinary holder in due course.
• B)an ordinary check passer.
• C)an ordinary holder.
• D)an ordinary holder in due course.

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Definitions:

Ending Inventory

The total value of goods available for sale at the end of an accounting period, calculated as the beginning inventory plus purchases minus cost of goods sold.

Delivery Expense

The cost incurred by a company to transport its goods to customers, including freight and shipping fees.

Merchandising Business

A type of business that purchases goods for resale to customers at a profit, primarily selling products rather than services.

Other Income

Revenue generated from non-primary business activities, such as interest, dividends, or the sale of assets.