Vicki, a Bookkeeper for Emilio Enterprises, Steals Some of the Checks

question 17

Multiple Choice

Vicki, a bookkeeper for Emilio Enterprises, steals some of the checks she is supposed to post to her employer's account.She forges her employer's indorsement.The indorsement is:

• A) effective as the employer's indorsement because of the shelter rule.
• B) effective as the employer's indorsement because Vicki's duties included processing the checks.
• C) not effective as the employer's indorsement since Vicki was an impostor.
• D) not effective as the employer's indorsement because an unauthorized signature necessary to negotiation is inoperative.

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Definitions:

Disposable Income

Monetary assets available for households to invest in spending and saving after tax obligations.

Saving

The process of setting aside a portion of current income for future use, or the funds that have been set aside for such purposes.

Disposable Income

Financial holdings households can direct towards spending and saving activities after tax deductions.

Consumption

The act of using up goods and services to satisfy human needs and wants, considered a principal component of GDP.