If a Bank Pays a Check with a Forged Drawer's

question 68

True/False

If a bank pays a check with a forged drawer's signature,the bank must recredit the drawer's account,so the loss usually falls on the bank.

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Definitions:

Capital Account Balance

Capital Account Balance is the net result of public and private international investments flowing in and out of a country, but it also refers to an individual's or company's financial statement showing the equity ownership and contributed capital.

Withdrawal

Withdrawal refers to the act of taking money out of a financial account, or the removal of participation or investment in a venture or agreement.

Net Income

A company's overall earnings post-deduction of every expense and tax from its total income.