If a Bank Dishonors a Check for No Good Reason

question 14

Multiple Choice

If a bank dishonors a check for no good reason, the customer can collect from the bank

• A) only the service fee charged by the bank.
• B) all damages the customer suffers.
• C) any damages that result from injury to the customer's reputation resulting from a bad credit rating or from being arrested and prosecuted.
• D) all service fees charged by the bank and all damages the customer suffers.

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Definitions:

Current Liabilities

Short-term obligations that will be paid or settled within the coming year in cash, goods, other current assets, or services.

Gross Profit Percentage

A financial metric that shows the proportion of profit a company makes after subtracting the cost of goods sold from its total revenue.

Net Sales Revenue

The amount of revenue generated from sales after deducting returns, allowances for damaged goods, and discounts.

Earnings Per Share

A financial ratio that measures the amount of a company's net income allocated to each outstanding share of common stock.