Which of the Following Controls Should Assist in Preventing Fraudulent

question 32

Multiple Choice

Which of the following controls should assist in preventing fraudulent makers:

• A) Strict control of the check signing machine
• B) Prohibition on the use of facsimile signatures
• C) Control of the blank check stock
• D) Both "a" and "c"

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Definitions:

Promissory Note

A written, legally binding document in which one party promises to pay another a definite sum of money either on demand or at a fixed future date.

Alcohol-Related Incapacity

A state of being unable to function or make decisions due to excessive consumption of alcohol.

Misrepresentation

A false statement of fact made by one party to another party, which has the effect of inducing that party into a contract.

Age of Majority

The legally defined age at which an individual is considered an adult, with all the rights and responsibilities thereof.