美国CPA模拟习题：商业环境——商业票据（一）

为了帮助参加2014年美国cpa考试的学员巩固知识，提高备考效果，正保会计网校特为大家整理了美国cpa考试模拟试题，帮助广大考生一起学习一起进步。

Under the Negotiable Instruments Article of the UCC, which of the endorser's liabilities are disclaimed by a "without recourse" endorsement?

a.Neither contract nor warranty liability.

b.Both contract and warranty liability.

c.Contract liability only.

d.Warranty liability only.

Explanation

Choice "c" is correct. Endorsing a negotiable instrument without recourse negates contract liability but not warranty liability.

Choices "d", "b", and "a" are incorrect. Each of these choices incorrectly addresses warranty and/or contract liability.