In Accord with Banking Industry Practices,US Bank's Computers Are Pro?grammed

question 4

Multiple Choice

In accord with banking industry practices,US Bank's computers are pro?grammed to verify signatures only on checks exceeding $1,000.US Bank cashes a check for $900 on the forged signature of its customer Vita.Under UCC Article 3,with respect to reasonable commercial standards,US Bank is

• A)definitely liable.
• B)definitely not liable.
• C)liable if any other bank verifies all signatures on all checks.
• D)liable if Vita has never written or cashed a check for more than $899.

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Definitions:

Average Tax Rate

The ratio of the total amount of taxes paid to the total tax base (income, expenditure, or asset), represented as a percentage.

Proportional

Characterized by or corresponding in size, degree, or intensity according to a fixed ratio or relationship.

Price Elasticity

A measure indicating how much the quantity demanded of a good responds to a change in its price, often illustrating the sensitivity of demand to price changes.

Relatively Elastic

Characterizes a situation where the quantity demanded of a good or service changes significantly due to a small change in price.