Bob, a guest in Jim's house, opens Jim's desk and writes a check to himself on Jim's checking account, forging Jim's signature. He indorses the check "Bob Saunders" and presents it to Jim's bank for payment. If the bank pays, can it collect from Jim's account?
a. Yes, because Bob is the real payee.
b. Yes, because Jim's name is on the check.
c. No, because bank should have known the signature is forged.
d. No, because Jim did not know of the check.
c
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a. markup b. gross profit return on investment c. net profit d. markdown
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Answer the following statement true (T) or false (F)