A Budget

question 12

Multiple Choice

A budget:

• A)can sometimes produce negative consequences for the organisation rather than improving efficiency.
• B)will always improve the efficiency of an organisation
• C)must always be met
• D)must be prepared by all entities

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Definitions:

Holder by Negotiation

Holder by negotiation refers to a person who has obtained possession of a negotiable instrument, such as a check, in a manner consistent with the statute's requirements for transfer, thereby acquiring the right to payment.

Involuntary

Occurring without a person's consent or against their will, often referring to actions or processes not chosen by an individual or group.

For Deposit Only

An endorsement on a check indicating that it can only be deposited into an account, not cashed.

Converted

In legal and financial contexts, this refers to the change of one form of property or asset to another, such as converting bonds to stocks or a commercial building to residential use.