Check kiting is defined as
a. indorsing a check while knowing that the check is a stolen check.
b. carelessly paying an unauthorized instrument.
c. a scheme of overdrawing account "A" by depositing a check in account "B," then overdrawing account "B" to cover the insufficient funds in account "A."
d. issuing an instrument to an impostor who negotiates the instrument to a bank that is unaware of the fraud.
c
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In the United States, the power of the states to regulate is:
A. nonexistent over matters that affect interstate commerce. B. limited only by its own state constitution. C. exclusive in the domain of intrastate commerce. D. exclusive in the domain of interstate commerce.
On January 1, 2017, the Leaf Company acquired a 5% interest in the Trunk Corporation through the purchase of 100,000 shares of Trunk's common stock for $640,000; the investment is recorded on Leaf's books as trading securities. During 2017, Trunk paid $40,000 in dividends and reported net income of $100,000. The market price of Trunk's common stock was $6.20 per share on December 31, 2017. Leaf
should report the investment in the Trunk Corporation on its December 31, 2017, balance sheet at A) $620,000. B) $627,000. C) $640,000. D) $645,000.
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What will be an ideal response?
The price variance indicates:
a. the difference between actual and standard unit price multiplied by the inputs used. b. the difference between actual and standard unit price multiplied by the inputs planned. c. the difference between actual and standard hourly rate multiplied by the inputs used. d. the difference between actual and standard hourly rate multiplied by the inputs planned. e. None of the answers are correct.