Which of the Following Statements Is TRUE with Respect to Certification

question 23

Multiple Choice

Which of the following statements is TRUE with respect to certification of cheques?

• A) The process of certification is expressly based on a detailed set of provisions in the Bills of Exchange Act.
• B) The decision to countermand a cheque must be made by the payee or the drawee, but not by the drawer.
• C) A certified cheque is usually certified at the request of either the payee or the drawee.
• D) Certification allows the payee to receive payment even if the relevant account is overdrawn.
• E) After certifying a cheque, a bank normally transfers funds into a countermand account and then uses those funds to honour the cheque when it is presented for payment.

Explain the importance of involving a range of stakeholders in the decision-making process to ensure quality and innovation.

Identify and analyze the common elements found in failed decisions.

Discuss the significance of transparency, inclusiveness, and openness in public decision-making.

Describe methods to engage various groups in the decision process, highlighting the benefits of brainstorming and focus groups.

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Definitions:

Decreasing Returns To Scale

See Diseconomies of scale.

Economies Of Scope

Exist when the cost of producing two products jointly is less than the cost of producing those two products separately.

Economies Of Scope

Describes cost advantages that businesses experience when they increase the variety of goods or services they offer, utilizing shared operations or resources.

Economies Of Scope

Cost advantages that enterprises obtain due to a larger scope of operations, where producing a wider variety of goods or services results in lower average costs.