Clark is the senior payroll clerk for Gonzalez Corporation. When preparing the weekly payroll, Clark added the name of Simmons, a fictitious employee, to the payroll list. Lewis, the treasurer of the corporation, signed the payroll checks and delivered them to Clark. Clark distributed checks to the correct employees and kept the one made payable to the order of Simmons. Clark indorsed the name of
Simmons to the check, cashed it at Diamond Check Cashing. In this situation:?
A) an indorsement was not necessary to negotiate the instrument.
B) the Gonzalez Corporation can seek recovery against Diamond Check Cashing.
C) the forged signature is given the same effect as though it had been authorized by the named payee.
D) Clark is not subject to civil or criminal liability.
C
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Teachers Credit Union has decided that tellers must rotate through a new weekend shift on Saturday afternoons because several of its financial competitors have recently begun to offer additional hours to customers. Teachers Credit Union is implementing a(n) ______ change.
A. radically innovative B. reactive C. adaptive D. proactive E. innovative
Scrubber, Inc presented the following information in a note to its financial statements for the year ending December 31, 2016: The company has a loan agreement with Mountain State Bank that states: 1 . The current ratio should remain at least 2.0 to 1 at all times. 2 . The debt-to-equity ratio should not exceed .7 to 1 at any time. 3 . The company must maintain $75,000 cash at all times. The
ratios at year-end are: current ratio, 2.3 to 1 and debt-to-equity ratio, .2 to 1 . The amount of cash on the bank statement is $75,400, but the cash account after the adjustments from the bank reconciliation has a balance of $74,900 . Has Scrubber violated its loan agreement? a. No b. Yes, the cash balance is less than $75,000. c. Yes, the current ratio is .3 or 30% larger than the agreement indicates. d. Yes, the cash balance is less than $75,000, and the debt-to-equity ratio is overstated.
Which team below is comprised of a group of workers from different units with various areas of expertise to work on certain projects?
A. cross-functional team B. self-managing team C. problem-solving team D. virtual team
An employee has gross earnings of $600 and withholdings of $45.90 for social security and Medicare taxes and $60 for income taxes. The employer pays $45.90 for social security and Medicare taxes and $4.80 for FUTA. The total cost of this employee to the employer is
a. $650.70. b. $600.00. c. $696.60. d. $604.80.