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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)
  • A
    2% (1)
  • B
    82% (40)
  • C
    10% (5)
  • D
    6% (3)

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