Dental Clinic Agent Emma Is Authorized to Write Checks on the Clinic's

Multiple Choice

Dental Clinic agent Emma is authorized to write checks on the clinic's account in Finance Bank. Pharma Corporation is a clinic supplier. Emma writes a check on the clinc's account "pay to the order of Pharma [signed] Emma," indorses it in Pharma's name, and deposits it in her own account at Third Bank. If the bank collects payment, the ultimate party most likely to suffer the loss is​

A) ​no one.
B) ​Dental Clinic.
C) ​Finance Bank.
D) ​Pharma.