Question

A business writes a check to a supplier. However, there is an accounting error that the business owneris unaware of and there is not enough money in the account to cover the check. What is the beststrategy for avoiding this problem in the future?
(1 point)
Switch to using cash for all business transactions.
Assume it was a one-time problem and keep taking checks.
Insist on electronic payments so there is less opportunity for error.
Stop doing business with this client since the client committed a crime.
A)
Could a business post a price for an item but actually charge the customer more when it was time topay?
(1 point)
No, the posted price is effectively a contract.
Yes, businesses can charge whatever they want.
No, the price should not have been posted at all.
Yes, the market determines the price of the products.

Answer 1

1) Insist on electronic payments so there is less opportunity for error.
- Electronic payments (and real‑time bank feeds/automatic reconciliation) reduce errors and help ensure funds are available before payment clears.

2) No, the posted price is effectively a contract.
- Posted prices create an expectation and consumer protections (and contract principles) prevent businesses from charging a higher price at checkout.