Asked by Naomi Allen on May 10, 2024

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Which of the following may endorse an instrument made payable to a legal entity such as a partnership?

A) The managing partner only.
B) The financial officer only.
C) The bookkeeper only.
D) The treasurer only.
E) Any authorized representative.

Authorized Representative

An individual or entity legally empowered to act on behalf of another person or organization.

Legal Entity

A legal entity refers to any company or organization that has legal rights and obligations, including the capacity to enter into contracts and loans, sue and be sued.

Partnership

A business structure where two or more individuals share ownership, as well as the profits and liabilities of the business.

  • Know who can endorse instruments made payable to entities and the effect of such endorsements.
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KR
Katerina ReznikMay 17, 2024
Final Answer :
E
Explanation :
Any authorized representative of the legal entity, such as a partnership, can endorse an instrument made payable to that entity. This includes individuals who are given the authority to act on behalf of the entity, such as officers or agents, not just specific roles like managing partner or treasurer.