AFP
CTP · Question #490
(Topic 5) Which of the following business practices does NOT comply with the Uniform Commercial Code?
The correct answer is B. A company receives a check marked "paid in full" and disputes it 120 days later. See the full explanation below for the reasoning.
Question
- (Topic 5)
Which of the following business practices does NOT comply with the Uniform Commercial Code?
Options
- AA company reconciles its bank statements within 30 days of receipt.
- BA company receives a check marked "paid in full" and disputes it 120 days later.
- CA bank exercises ordinary care when it examines signatures on checks received.
- DA bank elects to return stale-dated items.
How the community answered
(49 responses)- A2% (1)
- B82% (40)
- C10% (5)
- D6% (3)
Community Discussion
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