ACT 5782 Test Multiple Choice

Question 1. Felix draws a check payable to "DeliMart" to buy groceries. Felix's check is most likely a. a certificate of deposit. b. an order to pay. c. a promise to pay. d. a promissory note. 2. Felix draws a check payable to "DeliMart" to buy groceries With respect to Felix's check, DeliMart is a. the drawee. b. the drawer. c. the maker. d. the payee. 3. Commodity Sales Corporation (Commodity Sales) and Resource Purchasing Company (Resource Purchasing) enter into a contract for a sale of unpro...