If a Bank Pays a Forged Check,it Is Liable for ________

question 39

Multiple Choice

If a bank pays a forged check,it is liable for ________ the payee's funds.

• A)converting
• B)detaining
• C)withholding
• D)diverting

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Definitions:

Normal Profits

The level of profit needed for a company to remain competitive in the market, covering its opportunity costs.

Long Run

The time period in which all factors of production can be varied, but technology remains constant.

Product Differentiation

A marketing strategy that businesses use to distinguish their product from similar offerings in the market, through variations in quality, features, style, or branding.

Monopolistically Competitive

A market structure where many firms sell products that are similar but not identical, allowing for product differentiation and some price control.