Jeff had VISA card with a chip in it stolen from his wallet. The pin number on the card was 9471 which was the last four digits of his grandmother's phone number
The thief made $2,000 worth of fraudulent transactions on the card before the theft was discovered and the card was cancelled. The agreement Jeff had signed when he got the VISA card was the standard banking agreement. Which of the following statement is TRUE?
A) Jeff would only be liable for $50
B) Jeff would be liable for $100
C) Jeff would be liable for $500
D) Jeff would be liable for $1,000
E) Jeff would be liable for $2,000
A
You might also like to view...
Which inventory costing method results in the lowest income tax expense during a period of decreasing prices?
a. FIFO b. LIFO c. Specific Identification d. Weighted Average Cost
Successful corporate governance depends upon successful management of the company, as management has the primary responsibility for creating a culture of performance with integrity and ethical behavior
a. True b. False Indicate whether the statement is true or false
The U.S. government is one of the world's largest customers, spending hundreds of billions of dollars a year.
Answer the following statement true (T) or false (F)
Debra and Lawrence have an equal partnership. This year, after expenses, the partnership had a profit of $200,000 . Debra and Lawrence will each pay taxes on:
a. whatever they receive from the partnership. b. $50,000. c. $100,000. d. None of the above. The partnership itself will pay the taxes on the business's profit.