Consumers Have the Responsibility to Examine Periodic Statements Provided by Their

question 19

Multiple Choice

Consumers have the responsibility to examine periodic statements provided by their financial institutions. If a loss would not have occurred but for the failure of a consumer to report within __________ of the transmittal of the statement any unauthorized transfer, the loss is borne by the consumer.

• A) fourteen (14) days
• B) thirty (30) days
• C) sixty (60) days
• D) six (6) months

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Definitions:

United States

A nation situated in North America, made up of 50 states and one federal district, renowned for its vast economy and varied demographics.

Factors of Production

The inputs used in the production of goods or services in the process of economic activity, including land, labor, capital, and entrepreneurship.

Inputs

Resources such as labor, capital, and materials used in the production process to create an output.

Marginal Product

The additional output that is produced by adding one more unit of a specific input while holding all other inputs constant.