Marilyn Receives an Unsolicited Credit Card in the Mail and Tosses

question 41

Multiple Choice

Marilyn receives an unsolicited credit card in the mail and tosses it on her desk. Without Marilyn's permission, her roommate Nancy uses the card to buy a new laptop for $1,800. Marilyn is​

• A) ​liable for $1,000.
• B) ​liable for $500.
• C) ​liable for $50.
• D) ​not liable for any amount.

---

Definitions:

Adjusted Book Value

The net worth of a company calculated by adjusting assets and liabilities to their market values rather than their book values.

Stock Issuance

The process by which a company releases its shares to the public or existing shareholders, often to raise capital.

Percent Ownership

The portion of equity interest that an investor holds in a company, often expressed as a percentage.

Shares Common Stock

Equity securities that represent ownership interest in a corporation, with rights to dividends and to vote on corporate matters.