In the event that a Cardholder reports a misplaced, lost, or stolen card, which of the following is true?

When a Cardholder reports a misplaced, lost, or stolen card, it is important to understand the various implications and responsibilities involved. The assertion that the government remains obligated to pay for valid transactions made prior to the loss is correct. This means that any purchases made with the card before the account was compromised are still the responsibility of the government. This continues to uphold the integrity of contracts and financial transactions that were legitimately authorized.

Additionally, it is standard practice for the financial institution to close the account to prevent unauthorized transactions following the report of a lost or stolen card. This step is crucial in safeguarding government funds from potential fraud.

Furthermore, after reporting the card as lost or stolen, the Cardholder can expect to receive a replacement card, or in some cases, checks may be issued to provide alternative payment methods. This ensures that the Cardholder can continue to perform necessary purchases without significant interruption.

By recognizing these three points—ongoing payment obligations, account closure, and issuance of new payment methods—it is clear that all aspects mentioned in the choices are collectively true and relevant in the context of managing a lost or stolen card situation within the GPC program.