Standing Plans

question 126

Multiple Choice

Standing plans:

• A) are developed to achieve a set of goals that are unlikely to be repeated in the future.
• B) are used to provide guidance for tasks performed repeatedly within the organization.
• C) define company responses to specific situations, such as emergencies or setbacks.
• D) are the most important in the organizations.
• E) are none of these.

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Definitions:

Check-Cashing Outlets

Financial service providers that offer clients the ability to cash checks for a fee without needing a bank account.

Pay a Fee

The act of making a payment for a service or the right to engage in a particular activity, typically set at a fixed rate by the service provider or regulating authority.

Fractional Reserve

A banking system in which banks hold reserves that are less than the amount of their customers' deposits, allowing them to lend out the majority of deposited funds.

Commercial Banks

Organizations that take in deposits, issue different types of loans, and offer a range of financial services to both individuals and enterprises.