Elton Presents an Uncertified Check for Payment More Than Six

question 20

Multiple Choice

Elton presents an uncertified check for payment more than six months after its date.The check was drawn by Dakota on her account in First Community Bank.The usual banking practice in such a case is to

• A)cash the check.
• B)refuse to cash the check.
• C)ask the payee what he or she would prefer.

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Definitions:

Maximize Profits

The process of increasing the financial gain a business receives from its operations to the highest possible level.

Corporate Boards

Groups of individuals elected by shareholders to oversee the management and make strategic decisions for a corporation.

Government Intervention

A scenario where the government steps into influence, regulate, or directly control economic, social, or other aspects of daily life, often to correct market failures or promote social welfare.

Organizational Performance

Refers to how well an organization achieves its market objectives and goals.