If Jay Signs Mila's Name to a Negotiable Instrument Without

question 79

Multiple Choice

If Jay signs Mila's name to a negotiable instrument without Mila's authorization or approval:

• A)the signature is not effective as the signature is of the unauthorized signer.
• B)the signature cannot be ratified later by the person represented.
• C)the signature does not bind the person whose name appears.
• D)Jay is not liable on the check.

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Definitions:

Corporate Level

Pertains to major strategic decisions affecting the whole company, typically made by top-level management.

Responsibility Centres

Units within an organization for which managers are responsible, focusing on revenues, costs, or a combination of both, to measure performance.

Budgetary Slack

The practice of underestimating revenue or overestimating expenses to make budget targets more easily attainable.

Window Dress

Window Dressing is a financial strategy used by companies to improve the appearance of their financial statements or investment portfolio, often at the end of an accounting period.