Asked by nicole bechter on Apr 28, 2024
Verified
Accept a check written for more than the amount due so patient can receive cash back
A) best practice (good policy)
B) not a best practice (not a good policy)
Cash Back
A feature of some financing arrangements and credit cards where a percentage of the amount spent is returned to the cardholder.
- Determine key methods to verify check authenticity and prevent fraud.
- Learn about the consequences of accepting checks written for more than the amount due and the practice of giving cash back.
Verified Answer
ZK
Zybrea KnightMay 03, 2024
Final Answer :
B
Explanation :
Accepting a check for more than the amount due to give cash back increases the risk of fraud and can complicate accounting practices, making it not a good policy.
Learning Objectives
- Determine key methods to verify check authenticity and prevent fraud.
- Learn about the consequences of accepting checks written for more than the amount due and the practice of giving cash back.