Identify and briefly describe the four steps in the risk management process.
Fill in the blank(s) with the appropriate word(s).
Answer will vary
(1) Risk Identification-all possible risks are identified; (2) Risk Assessment-risks are assessed in terms of importance and need for attention; (3) Risk Response Development-plans are developed to respond if the risk actually occurs; (4) Risk Response Control-the actual response to the risk and controlling changes associated with the risks.
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Discuss the effect of an unauthorized signature on an instrument
Under the UCC, good faith means honesty in fact and the observance of reasonable commercial standards of fair dealing in the trade
a. True b. False Indicate whether the statement is true or false
Fernando owes Lucia $8,000 . They both realize he is unlikely to be able to repay that much, so Lucia says: "Pay me $5,000 and we'll call it good." Fernando pays the $5,000 . This settlement is called:
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