A _____ Decision Occurs When an Unexpected Problem Arises That

question 2

Multiple Choice

A _____ decision occurs when an unexpected problem arises that can lead to disaster if not resolved quickly and appropriately.

• A) nonprogrammed
• B) strategic
• C) crisis
• D) programmed
• E) standard

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Definitions:

Collecting Bank

A bank that handles the presentation of payment documents, such as checks, for a depositor.

Endorser

A person who signs a negotiable instrument on the back to transfer ownership or to guarantee payment to someone else.

Secondarily Liable

Refers to the obligation to pay a debt or fulfill an obligation only if the primary party responsible fails to do so.

Drawer

The party that writes or creates a bill of exchange, such as a check, commanding a payment to be made to a specified person or entity.