Regardless of the Care Used in Cashing a Check by the Bank

question 37

Multiple Choice

Regardless of the care used in cashing a check by the bank, a customer must report a forgery within ________ from the date the bank statement showing the forgery is available to the customer or the customer will lose the right to recover.

• A) 90 Days
• B) 120 Days
• C) 180 Days
• D) 9 Months
• E) 1 Year

---

Definitions:

Total Assets

The sum of all assets owned by a business, including current, fixed, and intangible assets, representing the total resources a company has at its disposal.

Total Liabilities

Comprises all the obligations a company owes, including loans, accounts payable, mortgages, deferred revenues, bond issues, warranties, and accrued expenses.

Total Equity

The total of all ownership interest in a company, calculated as total assets minus total liabilities.