If an Employee with Responsibility for Issuing Instruments Forges a Check

question 17

Multiple Choice

If an employee with responsibility for issuing instruments forges a check or other instrument,then any indorsement in the name of the payee,or a similar name,is valid as long as the person who pays the instrument doesn't know of the fraud.

• A)the Imposter Rule
• B)the Conversion Rule
• C)the Employee Indorsement Rule
• D)the Fictitious Payee Rule

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Definitions:

Expected Inflation

The rate at which prices of goods and services are anticipated to rise over time, as forecasted by consumers, businesses, and economists.

Actual Inflation

The rate at which the general level of prices for goods and services is rising, and subsequently, eroding purchasing power.

Unemployment Rate

The unemployment rate is the percentage of the labor force that is jobless and actively seeking employment.

Expected Inflation

The rate at which the general level of prices for goods and services is anticipated to rise over a specified period.