Banks Are Liable for Losses on Counterfeit Checks in All

question 40

Multiple Choice

Banks are liable for losses on counterfeit checks in all the following scenarios except:

• A) whether or not the bank acted reasonably in its processing systems in clearing the checks.
• B) whether or not the bank complied with time requirements for customers regarding the checks.
• C) whether or not the bank made an unreasonable mistake in paying the check.
• D) whether or not presentment was valid.

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Definitions:

Global Firm

A business entity that operates in multiple countries across the world, engaging in international trade or services.

Geocentric

Geocentric pertains to considering Earth as the center, or in business, it represents a global approach where policies and practices are applied universally across a multinational company, disregarding national boundaries.

Human Resources

The department within an organization that is responsible for managing employee-related functions, such as hiring, training, and benefits.

Headquarters-Centered

A management approach or organizational structure in which decision-making authority, corporate culture, and major activities are centralized at the main office or headquarters.