Max is the clerk for the Superior Construction Company. He makes out the payroll; prepares all of the payroll checks and reconciles the bank statements for the firm. He decides to increase her income by padding the payroll; accordingly, he makes out a check in the name of someone who does not exist. He then endorses the check with the payee's name and his name and cashes the check himself at Lane Street Bank where the company has its account.
Under the fictitious payee/imposter rule, will Superior and not the bank be liable for this check?
Answers (1)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “Max is the clerk for the Superior Construction Company. He makes out the payroll; prepares all of the payroll checks and reconciles the ...” in 📘 Business if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers
You Might be Interested in
The total output produced by a firm divided by the quantity of workers employed by the firm is the definition of
Answers (1)
Which of the programs below would not transfer wealth from young to old generations? a. taxes are raised to provide more generous social security benefits. b. taxes are raised to improve government infrastructure such as roads and bridges. c.
Answers (1)
Items held for sale in the normal course of business are referred to as
Answers (1)
Will, the owner of Will's Landscaping, was talking to a visitor in his office, telling her that "We are a fun-loving group that believes in teamwork and a family atmosphere at work, which significantly affects our work outcomes.
Answers (1)
Which of the following controls would be most effective in assuring that recorded purchases are free of material errors? A. The receiving department compares the quantity ordered on purchase orders with the quantity received on receiving reports. B.
Answers (1)
New Questions in Business
Which resource can be used for electricity, vehicle fuel, and heat?
Answers (1)
Zeke Company sells 25,000 units at $21 per unit. Variable costs are $10 per unit, and fixed costs are $75,000. The contribution margin ratio and the unit contribution margin are:A. 52% and $11 per unitB. 47% and $11 per unitC. 47% and $8 per unitD.
Answers (1)
You have performed electrophoresis on a sample of normal hemoglobin (hba, sickle-cell hemoglobin (hbs, a mixture containing hba hbs, and a sample of hemoglobin from a patient.
Answers (1)
How many government agencies does the United Kingdom have to oversee the financial industry
Answers (1)
Recently, much of the Western United States experienced drought conditions and water usage was restricted in Denver. Yet, even though most people used less water, the price of water did not drop.
Answers (1)