When an Incomplete Instrument Is Completed After It Has Left

question 41

Multiple Choice

When an incomplete instrument is completed after it has left the drawer's hands, a holder in due course can:

• A) enforce it as completed.
• B) enforce only the intent of the drawer.
• C) lose all rights to the instrument.
• D) not enforce it as completed.

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Definitions:

Straight-Line Depreciation

Straight-line depreciation is a method of allocating the cost of a tangible asset over its useful life in equal annual amounts.

Capital Budgeting

The strategy of organizing and overseeing a business's extended investments in ventures and assets.

Straight-Line Depreciation

A technique for spreading the expense of a physical asset across its lifespan in uniform yearly payments.

Income Tax Expense

The amount of money a company sets aside to pay its income tax obligations for the year.