Mike Approaches You and Tells You That He Is a Sales

question 67

Multiple Choice

Mike approaches you and tells you that he is a sales representative for The Good Hands Massage and Spa,a national chain of health spas.He tells you there is a special half price sale and you write a check for a one year membership payable to The Good Hands Massage and Spa and give it to Mike.Mike in fact does not represent Good Hands.He forges an endorsement and cashes the check.Which rule applies in this situation?

• A) the imposter rule
• B) the fictitious payee rule
• C) the transfer warranty rule
• D) the shelter principle rule
• E) the presentment warranty rule

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Definitions:

National Average

The arithmetic mean or median of certain measurements or statistics considered across a whole nation.

One-sample T-test

A statistical test used to compare the mean value of a sample to a known value (usually the population mean) to see if there are significant differences.

Null Hypothesis

A statistical hypothesis that assumes no significant difference or effect exists within a set of given observations.

P-value

A measure in statistics that helps to determine the significance of results derived from a hypothesis test.