Planter,Inc.sold $100,000 in plants and plant supplies to Ace Corporation.When the supplies were delivered to Ace,Ace ordered its bank,Fourth National,to pay $100,000 to Planter.Fourth National debited Ace's account and ordered Chase Superior,Planter's bank,to credit Planter's account for $100,000.In this transaction:
A) Planter is the originator and Ace is the beneficiary.
B) Ace is the originator and Chase Superior is the beneficiary.
C) Ace is the originator and Planter is the beneficiary.
D) Fourth National is the beneficiary and Chase Superior,the originator.
Correct Answer:
Verified
Q22: Electronic _ is a system in which
Q23: Which of the following is true of
Q24: The Identity Theft Penalty Enhancement Act added
Q25: How does a bank verify the signature
Q26: Tammy's ATM card is stolen.If she notifies
Q28: A(n)_ is a check that is presented
Q29: If a bank pays a check in
Q30: If a bank uses a substitute check,it
Q31: Which of the following is true of
Q32: An oral stop payment ordered by a
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents