The Loan Policies of the World Bank

question 15

Multiple Choice

The loan policies of the World Bank:

• A) Are generous to developing countries seeking to expand their educational systems.
• B) Impose strict restrictions on debtor countries which can sometimes lead to hardship.
• C) Are generally only available to rich nations.
• D) Are open to any company conducting business abroad.

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Definitions:

Segregation of Duties

An internal control mechanism designed to reduce the risk of error or fraud by dividing responsibilities among different people in an organization.

Cheque Signer

An authorized individual within an organization who has been given the authority to sign checks on behalf of the company.

Misappropriate

The act of taking something dishonestly for one's own use, particularly with reference to funds.

Electronic Funds Transfers

Electronic Funds Transfers (EFT) are the digital exchange of money from one bank account to another, either within a single financial institution or across multiple institutions, through computer-based systems.