Which of the Following Statements Is TRUE with Respect to Certification

question 31

Multiple Choice

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

• A)A certified cheque is usually certified at the request of either the payee or the drawee.
• B)The process of certification is expressly based on a detailed set of provisions in the Bills of Exchange Act.
• C)Certification allows the payee to receive payment even if the relevant account is overdrawn.
• D)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.
• E)The decision to countermand a cheque must be made by the payee or the drawee, but not by the drawer.

Grasp the importance of ethical considerations within organizational culture.

Understand how organizational cultures are formed, maintained, and changed.

Comprehend the psychological contract between the organization and its employees.

Grasp the global trends affecting workforce diversity and organizational culture.

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Definitions:

Maslow's Lesson

Maslow's Lesson underscores the importance of understanding and addressing basic human needs before one can achieve higher levels of self-actualization, based on Maslow's hierarchy of needs.

Needs Level

Refers to the hierarchy of needs ranging from basic physiological needs to higher-level psychological needs, as identified in theories of psychology.

Relatedness Needs

The psychological needs for interpersonal relationships and emotional connections with others.

Esteem Needs

In Maslow’s hierarchy, include recognition from peers and colleagues.