To Curb Attempted Fraud, Banks Should

question 163

Multiple Choice

To curb attempted fraud, banks should:

• A) Require greater vigilance by the management and st
• B) Take particular care when the beneficiary is a thi
• C) Ensure that details of all telephone deals which d
• D) All of the above.

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Definitions:

Goals and Objectives

Targets and outcomes that an organization or individual aims to achieve within a specific timeframe.

Period Costs

Period costs are expenses that are not directly tied to the production process and are expensed in the period they are incurred.

Selling Expenses

Costs incurred directly and indirectly in selling products or services, including commissions, advertising, and salesperson salaries.

Administrative Expenses

Costs of overall administration and general operations, such as salaries of executive officers and costs of general services.