FREE Trial
Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

1. Bank Nizwa, (collecting banker) collects the cheque issued by Mr. Yusuf to Mr. Suhail for OMR 3,500 and credits the account of Mr. Suhail

image text in transcribed
1. Bank Nizwa, (collecting banker) collects the cheque issued by Mr. Yusuf to Mr. Suhail for OMR 3,500 and credits the account of Mr. Suhail for OMR 1,500 as he has already paid Mr.Suhail OMR 2,000 as he had to meet some emergency expenses relating to his son's covid-19 treatment. Is Bank Nizwa an Agent for collection or holder for value? Explain in detail

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Survey of Accounting

Survey of Accounting

Authors: Carl S. Warren

7th edition

1285974360, 1285183487, 9781285974361, 978-1285183480

More Books

Students also viewed these Accounting questions

Question

★★★★★
If you owned a small business, would you develop a code of business conduct? If yes, what variables would you include? If no, how would you ensure that your employees were following ethical business...

Answered: 1 week ago

Question

★★★★★
2. Review the format and classification of the income statement

Answered: 1 week ago

Question

★★★★★
What research interests does the faculty member have?

Answered: 1 week ago

Question

★★★★★
In 1950, J. R. Clarkson founded a family-owned industrial valve design and manufacturing company in Sparks, Nevada. For almost a half century, the company, known as the Clarkson Company, worked on...

Answered: 1 week ago

Question

★★★★★
Need help with a c++ problem. #include //cin,cout #include //vectors #include //Format setw(),right using namespace std; //User Libraries Here //Global Constants Only, No Global Variables //Allowed...

Answered: 1 week ago

Question

★★★★★
Waterway Corporation made the following cash purchases of securities during 2020, which is the first year in which Waterway invested in securities. 1. On January 15, purchased 10,800 shares of...

Answered: 1 week ago

Question

★★★★★
On average every 3 out of 12 telephones is found busy. 7 telephone numbers are selected at random. Find the probability that 6 of them will be busy.(Give your answer to 4 d.p)

Answered: 1 week ago

Question

★★★★★
Select a data collection method of your choice. Write a measurable and precise objective that can be measured through the method you selected. Then, provide the justification (e.g., pros and cons)...

Answered: 1 week ago

Question

★★★★★
Write an essay-type paper in which you summarize the rational-emotive model in your own words. Be sure to include the following elements: Brief general information about Albert Ellis. Definition of...

Answered: 1 week ago

Question

★★★★★
A friend has asked you to help him figure out a statement he received from his broker. It seems that that at the start of last year, your friend paid $900 for a bond and sold it at the end of the...

Answered: 1 week ago

Question

★★★★★
You are told that P(A) = 0.4, P(B) = 0.5 and P(A or B) = 0.68 What is the value of P(A and B)? Please provide your answer in decimal form or percentage form, correctly rounded to two decimal places.

Answered: 1 week ago

Question

★★★★★
Why are alternative work arrangements useful approaches for both the employer and the employee?

Answered: 1 week ago

Question

★★★★★
LO3 Describe the two most common methods of applying for a job.

Answered: 1 week ago

Question

★★★★★
LO1 Explain the strategic importance of the recruitment function.

Answered: 1 week ago

Previous Question Next Question