Either credit side or debit side

Q: 5 Which items appear on the book side of a bank reconciliation? a outstanding cheques b deposits in…

A: A bank reconciliation statement is a statement that adds or subtracts the differences between the…

Q: .Acc. to Article 38 of UCP 600, a transferred credit must accurately reflect the terms and…

A: Transferred credit is the credit under which the stated terms define it 'transferable'. It is…

Q: True (t) or False (f) ____ The matching principle states that debits mus equal credits in each…

A: Matching concept follows the accrual accounting concept of business.

Q: A credit is used to decrease which of the following accounts (more than one may be correct)?…

A: As per rules of debit and credit,  All assets, expenses, withdrawals and dividend accounts will…

Q: When a liability is paid, which account should be credited? A, Cash B.Accounts payable

A: Cash (money or coins) is legal tender that may be used to exchange products, debts, or services. It…

Q: Which of the following is NOT one of the 3 Credit bureaus?  a. Experian b. Equifax c. Equaltax…

A: Credit Bureau is an organization that collects and analyzes the data which is related to an…

Q: Which one of the following statements is NOT true about account receivables? Select one: a. Account…

A: Accounts receivable: if sale is made on cash the supplier immediately collects the cash and no…

Q: When one owner or creditor sells to another, the transaction takes place in the which market?…

A: Financial Market is a place where the trading of securities take place. There are major two types of…

Q: The party who borrows money in a note payable is known as the: Multiple Choice Maker. Payee Issuer.…

A: Notes payable are written promises by a borrower to repay a specific amount of money to a lender on…

Q: If a credit marked as "Upon receipt by the beneficiary of notice from the issuing bank that a draft…

A: The question is based on the banking term and arrangement of credit under different conditions.…

Q: Question 7 What is the impact on the accounting equation when an accounts receivable is collected? O…

A: Accounts Receivables comes under the head of current assets in the Balance sheet .

Q: 0 Confirmation of a credit may be given by______ A, the beneficiary at the request of the importer…

A: Banks provide credit to customers for doing business and this help to grow business.

Q: Which of the following accounts is reciprocal account to the Investment in Branch account? A.…

A: Investment is branch ledger account is debited for cash, merchandise and services provided to the…

Q: True (t) or False (f) ______ Certificates of deposit are usually classified as cash on the balance…

A: A certificate of deposit (CD) is referred as a savings account that holds a fixed amount of money…