Which of the following is a similarity between the fictitious payee rule and the imposter rule?
A) Both hold the drawee liable on the instrument.
B) Both hold the drawer liable on the instrument.
C) Both put the risk of loss on the forger.
D) Both put the risk of loss on the indorsee.
B
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The change in the LIFO Reserve from one period to the next is recorded as an adjustment to Cost of Goods Sold.
a. true b. false
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Some consumers flaunt their wealth by buying expensive products and brands that others will notice. Such behavior is referred to as "luxury badging."
Indicate whether the statement is true or false
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