Mcgraw purchased an antique rocking chair from tillis by check. the check was dishonored by the bank due to insufficient funds. in the meantime, mcgraw sold the rocking chair to rio who had no knowledge that mcgraw’s check had been dishonored. which of the following is correct?

a. tillis may repossess the rocking chair from rio.
b. tillis may recover money damages from rio.
c. tillis may recover money damages from mcgraw.
d. tillis may recover damages from mcgraw based on fraud.

Depends on the price of the chair, it may be one or the other.

C) Tillis may recover money damages from McGraw.

D) Tillis may recover damages from McGraw based on fraud.

Explanation:

If the price of the rocking chair was higher than $500, then McGraw committed a felony by writing a bad check, but if the price of the rocking chair was lower than $500, then McGraw wouldn't go to jail, but he is still responsible for any damages suffered by Tillis. Most states consider writing a bad check for more than $500 a felony (check fraud), but if the amount is lower it may be considered a misdemeanor. The misdemeanor doesn't always apply since it can be considered unintentional, it all depends on the circumstances.

Since Rio bought the rocking chair in good faith and McGraw owned it at that moment, then he will keep it and no one can accuse him of any type of crime or wrongdoing.

both are integral parts of a corporate balance sheet. the cash flow statement, or statement of cash flows, measures the sources of a company's cash and its uses of cash over a specific time period. the income statement measures a company's financial performance, such as revenues, expenses, profits or losses over a specific time period (in fact, it's sometimes called a statement of financial performance).

a cash flow statement shows exactly how much money a company has received and how much it has spent, traditionally over a period of one month. it captures the current operating results and changes on the balance sheet, such as increases or decreases in accounts receivable or accounts payable, and does not include noncash accounting items such as depreciation and amortization. the cash flow generally comes from revenue received as a result of business activity, but it may be augmented by funds available as a result of credit. a cash flow statement is used to determine the short-term viability and liquidity of a company, specifically how well it is positioned to pay its bills and vendors.

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