Traditional budgeting takes a top-down approach

Cost of bank borrowing from another bank is ________

Fill in the blank(s) with the appropriate word(s).

Gage advised his bank to stop payment on a cheque that he had written in favour of Dennis Waters. Gage identified the cheque as written to Dennis Waters for $43, 250

The cheque was in fact written for $43, 025 and because of this the bank's computer system missed the cheque and the money was paid out to Dennis. Which of the following statements is TRUE? A) Gage can obtain punitive damages against the bank B) the bank is liable to reimburse Gage for the money paid out on the cheque. C) the bank is not liable as the bank's forms indicated it was not liable if the stop payment request was not completed accurately D) the bank is liable and must reimburse Gage for the money paid out on the cheque only if Dennis committed fraud in cashing it. E) The bank and Gage are each 50% liable for the error