Because the first steps in validating the customer authorization to use the ATM card is the same for making a deposit as it is for making a withdrawal, the use cases have a relationship. When two or more use cases have common steps we are able to break out those steps into their own use case, which is able to be referenced by other use cases. “For example, if we added an alternate scenario called Card Reader Failed which addresses the case when there is a mechanical failure in card reader mechanism, this would now be a possible outcome of an Account Holder trying to initiate a deposit transaction with an ATM” (Smith). After the validation process is completed the customer would then select the deposit option to enable them to make a deposit into their account. Once the customer selects the deposit option and the account information is retrieved the customer will then be asked to enter the amount to be deposited.
CHAPTER 6 - BUILDING AND MAINTAINING GOOD CREDIT 1. Consumer payment terms are the installments agreed to by the consumer in order to pay back credit. 2. Groceries are the least appropriate items to purchase with a credit card. 3.
Establishment of Responsibilities: By assigning only one person for handling of the checks as well as the processing of them, it provides a dafeguard against theft or errors. When only one person open the mail, it is not sure about all incoming checks are forwarded to the cashier. Therefore, one person should prepare the list of checks so that can be compared with daily cash summary. It makes sure that all checks on the lisst were deposited. All mail receipts should be opened in the presence of two mail
A customer is not liable for the amount of the overdraft if the customer did not sign or benefitted from the proceeds of the action. §4-401(b) This is a difficult scenario, the bank may be forced to re-credit Smiths account the $495. Is the bank without a remedy? According to 4-208: When a check is deposited into a bank and sent through to the bank upon which it is drawn, the depositary bank warrants that the item has not been altered and that it is entitled to enforce the instrument. If there is a problem with the indorsements, or if the check has been altered, the payor bank can bring a claim against the depositary bank for breach of the warranty.
The frequent shopper program can become an effective tool in the attraction and retention of loyal customers. Rewards that can be traded for luxury items will have a great influence in customer loyalty and attracting new customers. A positive response from the public is important and in order to ensure that response, Kudler Fine Foods must find and develop a proactive way to approach the public’s privacy concerns. Preventing conflict with consumers regarding personal data and how it will be used is simply fixed by keeping the consumers aware of just how it is being used. The number one concern for Kudler Fine Foods must be security and privacy of their consumers’ personal
Ethical Concerns Valdez (2014) advises, “Loyalty programs that reward decision makers may run into ethical issues when the decision maker is separate from the payer.” (para. 4) Frequent shopper programs must avoid kickbacks of any sort. If a customer is being rewarded twice, from a business and personal aspect, this can be considered a kickback. It is important to list the personal shopper depending if they are shopping for their business or employer versus personal use. Information Security
568) would not likely be able to be explained in a way that would dispel doubt about the transaction. The bank would also be required to report it because they have to report “acts that appear oriented to avoid reporting or recordkeeping requirements” or when “insufficient or suspicious information provided by customer” (Beauchamp, Bowie, & Arnold, 2013, pg. 568) as would almost assuredly be the case with Joey. c. Is law enforcement likely to discover his purchase of the house or boat for cash? Again this depends on the buy off of a banker.
Which of the following duties should NOT be performed by a credit department? | | | Student Response | Correct Answer | Feedback | A. | Monitor customer payment records. | | | B. | Handle cash receipts.
The objective of an audit of financial statements is to enable the auditor to express an opinion whether the financial statements are prepared, in all material respects, in conformity with an identified financial reporting framework of Generally Accepted Accounting Principles. In essence, materiality should function as a cut-off threshold to determine the nature of the audit testing. Auditors should not reveal its materiality level to clients because clients might take advantage of it to deceive the auditors and make its financial statement better. When the Deloitte auditors are suspicious of certain accounts, they not only can’t reveal it but also make more substantive investigation into these accounts. Question 4: Existence: the
6. Who has the right to order that payment on a check be stopped? Only the customer or a person authorized to draw on the account can order the bank not to pay the check. 7. Who is liable when a customer’s bank pays an altered check? If the customer can prove that the check was altered then the bank is liable for the payment. Even if the customer is at fault or negligent the bank can be liable for some of the loss if they failed to exercise ordinary care.