Suppose that Emmett impersonates a famous clown. He goes into an advertising agency and convinces the manager to issue a check to him in the name of the famous clown, purportedly as part of a fund-raising campaign for a nursing home for old retired clowns. If Emmett negotiates the check to a check-cashing store by forging the name of the famous clown, then the ad agency will be able to argue that
the bank must reimburse the account because the bank paid a check on a forged signature.
a. True
b. False
Indicate whether the statement is true or false
False
You might also like to view...
The amount in the Subscriptions Sold in Advance account should be carried over from the adjusted trial balance of the 10-column work sheet to which of the following columns?
a. Income statement as a debit b. Income statement as a credit c. Balance sheet as a debit d. Balance sheet as a credit
The purpose of an import quota is to ________
A) eliminate competition for a nation's domestic industries B) increase competition for a nation's domestic industries C) reduce competition for a nation's domestic industries D) make foreign competitors' goods less expensive than domestic goods E) make foreign competitors' goods more expensive than domestic goods
Which of the following types of organizations is most likely to have a raw materials inventory account?
A) A retailer. B) A manufacturer. C) A service provider. D) A wholesaler.
After purchasing a product, postpurchase evaluation may result in cognitive dissonance. Cognitive dissonance is
A. the congruence between external and internal searches for product information. B. a function of the manner in which the manufacturer of the product describes its attributes. C. dissatisfaction with the purchase. D. the establishment of criteria for comparing products. E. doubts that occur because the buyer questions whether the decision to purchase the product was right.