Fact Pattern 27-2A

question 10

Multiple Choice

Fact Pattern 27-2A
Ruth opens an account with State Bank under an agreement in which the bank reserves the right to charge the account for any item returned due to its unau?thorized alteration.
-Refer to Fact Pattern 27-2A. The agreement between Ruth and State Bank

• A) cannot change the effect of the UCC.
• B) is in accord with the UCC.
• C) violates federal banking regulations.
• D) violates the UCC.

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Definitions:

Risk Assumption

The act of taking on the potential for loss or harm as part of a project, investment, or business, often in pursuit of a reward.

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An individual who creates, launches, and manages a new business, typically taking on significant financial risk.

Controlling

In management, it involves monitoring performance, comparing it with goals, and taking corrective action as needed.

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An innovative concept or solution that can be transformed into a viable business opportunity.