Faye Forges Greta's Signature on a Check "Payable to the Order

question 65

Multiple Choice

Faye forges Greta's signature on a check "payable to the order of Faye" drawn on Greta's account in Home Bank. Most likely, if the bank pays the check

• A) the Federal Reserve will reimburse all parties for their costs.
• B) the loss will be apportioned among all of the bank's customers.
• C) Greta will be liable for the amount.
• D) the bank will have to recredit Greta's account.

Appreciate the importance of the principle of materiality in making accounting judgments.

Realize the significance of consistency, comparability, and reliability in financial reporting.

Understand the economic entity assumption and the separation of business and personal transactions.

Understand the importance and application of adjusting entries in financial accounting.

---

Definitions:

Symmetrical

Characterized by having parts that match each other in size, shape, and position on opposite sides of a dividing line or around a central point, creating a sense of balanced proportions.

Queen Mother Idia

An influential figure in the 16th century Benin Empire (present-day Nigeria), known for her political wisdom and as the mother of Oba Esigie.

Copper-Bronze

An alloy primarily of copper with tin, characterized by its strength and corrosion resistance, used historically for making tools, weapons, and art.

Soapstone Monolith

A large, singular piece of soapstone, often carved or utilized as a monument or sculpture.