I. When the check has been encashed II. When through the fault of the creditor the check has been impaired III. When a check has been cleared and credited to creditor’s account IV. When the creditor accepts the check as payment

I. When the check has been encashed II. When through the fault of the creditor the check has been impaired III. When a check has been cleared and credited to creditor’s account IV. When the creditor accepts the check as payment

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

Check shall produce the effect of payment:
I. When the check has been encashed
II. When through the fault of the creditor the check has been impaired
III. When a check has been cleared and credited to creditor’s account
IV. When the creditor accepts the check as payment

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