S,the Accountant for a Railway Company,forged the Signature of the Company's

question 47

Multiple Choice

S,the accountant for a railway company,forged the signature of the company's signing officer on a company cheque.The cheque was payable on the company's account and made out to another company controlled by S.The agreement between the company and its bank had no provision requiring the company to verify the monthly statements sent it by the bank for any discrepancies.Eventually,the company discovered the forgery and demanded that the bank return the money to its account,but the bank refused.In a lawsuit by the company against the bank for recovery of its money

• A)the bank will succeed because it simply honoured the cheques,which were negotiable instruments.
• B)the bank will successfully defend the lawsuit because the cheques were forged by the company's accountant.
• C)the company will succeed because there was no agreement between the bank and the company requiring the company to verify its statements.
• D)the company will succeed but on a quantum meruit basis only.
• E)the bank will succeed because the company owed the bank a duty to maintain internal audit controls,which would have found the problem.

Recognize the effects of shifts in supply and demand curves on market outcomes.

Define demand and understand the factors that affect it.

Describe the role of competition in driving market prices towards equilibrium.

Learn about the concept of shortages and surpluses and their causes.

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Definitions:

Humanistic Perspective

A psychological approach emphasizing individual potential for growth and the role of unique perceptions in guiding behavior and mental processes.

Unconscious Motivations

Drives and desires that influence an individual's thoughts and behaviors without their conscious awareness.

Growth Potential

Growth potential refers to the capacity for significant development or improvement, whether in the context of an individual's abilities, the expansion of an organization, or the progress of a society.

Person-Centered Perspective

A psychological approach emphasizing the importance of being aware of and accepting one's true self to achieve personal growth.