An Unauthorized Signature Binds the Person Whose Name Is Signed

question 1

True/False

An unauthorized signature binds the person whose name is signed.

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Definitions:

Personal Records

Documentation of an individual's financial transactions and essential personal data.

Accounting Principles

The rules and guidelines that businesses follow to report financial information consistently and accurately.

Private Sector

The part of the economy that is owned and operated by individuals and companies for profit, and is not controlled by the state.

Financial Accounting Standards Board

An independent organization responsible for establishing and improving financial accounting standards in the United States.