If you want to ensure that your money will be secured if cheques sent are wasted in the post, you should. explanation for correct and incorrect A) Always pay by ca B) Cross your Cheques ‘Account Payee only, Not Negotiable C) Always get the money in pers D) Not use the postal service in futu reon.’sh future

If you want to ensure that your money will be secured if cheques sent are wasted in the post, you should. explanation for correct and incorrect A) Always pay by ca B) Cross your Cheques ‘Account Payee only, Not Negotiable C) Always get the money in pers D) Not use the postal service in futu reon.’sh future

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Related questions

Q: Which statement about credit cards is true?

A: A credit card is a plastic card that allows you to that allows the holder of the card to make…

Q: This year, returns at large number of returns a. - policy to steal money How can sal b. hat interna…

A: Definition: Internal Control: Internal control refers to the plan of a company. Implementation of an…

Q: Credit memos are manually applied to customer balances Select one: a. on the Receive payment form b.…

A: A credit memo, short for credit memorandum, is a document issued by a seller to a buyer, informing…

Q: Student credit cards usually [do | do not] require parental or guardian guarantees a. do b. do…

A: Credit cards are unsecured loans. They are basically not backed by any collateral. Banks offer…

Q: Question Content Area If a company accepts a major credit card such as Visa from a customer, then…

A: False

Q: Which of the following statements are true? Select the two correct answers. Responses A) credit…

A: E) You can never use a store credit card anywhere else. Store credit cards can only be used at the…

Q: Record the two journal entries that should be recorded by Sunland Inc. for the sales transactions…

A: Journal entries for the notes receivables which are non-interest bearing note is required to be…

Q: K Checking Accounts. Why do individuals use checking accounts? What is the disadvantage of having…

A: Explanation is given below Explanation:People frequently utilise checking accounts for a variety of…

Q: Which one of the following combinations relating to the above statements is correct?

A: (1) Businesses should deny credit to customer to eliminate the costs of collecting trade…

Q: Would you recommend that Kyoko use a debit card? Yes O No What is the basis for your recommendation?…

A: A debit card is a financial tool that gives customers easy access to money from their checking…

Q: In order to buy a new car, you finance $18000 with no down payment for a term of five years at an…

A: The given details are:The initial loan of the car: $18,000APR: 5%Term: 5 years with monthly…

Q: Retail time deposits and certificates of deposit have high withdrawal risk to issuers. Select…

A: Retail time deposits refer to the deposits that are made with banking institutions that provide a…

Q: Cardholders who fail to make the minimum monthly payment on their credit card account are considered…

A: Credit cardholders are required to pay monthly due at the end of the billing cycle or on or before…

Q: Which of the following is not a reason for the Jones Hardware Store to accept credit cards from…

A: the benefits of credit cards payments are : 1. faster payments 2. attractive offers 3. default in…

Q: MATCH WITH BEST ANSWER Accounts Receivable Insurance Having a client that does not pay can leave…

A: Accounts Receivable: It refers to the amount owed to a company by the external debtors of the…

Q: Fully understanding the contract terms of a loan or credit card is... Select one O A. Not very…

A: Understanding contract terms: It's important to fully understand the terms of a loan or credit card…

Q: 1. Prepare journal entries where required. TIP: Remember that petty cash journal entries are…

A: Petty cash fund is that fund which is maintained for small petty expenses in the business. Imprest…

Q: 2. Should people have more than one credit card? Explain.

A: A credit card is a plastic card issued by a financial institution or credit card company that allows…

Q: Service charge expense on credit cards reduces the amount recorded as sales revenue. ○ True O False

A: Service charge expenses on credit cards are typically recorded as an expense separate from sales…

Question

If you want to ensure that your money will be secured if cheques sent are wasted in the post, you should. explanation for correct and incorrect

A) Always pay by ca

B) Cross your Cheques ‘Account Payee only, Not Negotiable

C) Always get the money in pers

D) Not use the postal service in futu

reon.’sh future

Expert Solution

This question has been solved!

Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.

SEE SOLUTION Check out a sample Q&A here

Step 1: Introduction:

VIEW

Step 2: Explanation:

VIEW

Step by step

Solved in 2 steps

SEE SOLUTION Check out a sample Q&A here

Similar questions

Select the banking terms from drop down to match with the correct definition. Definitions Banking Terms a. A check that has been paid by the bank on behalf of the depositor. select a banking term Automated teller machine (ATM)Electronic funds transfer (EFT)MakerDepositorDebit memorandumPayeeBank statementPayerCredit memorandumDeposit slipCheckCanceled checkSignature cardEndorsement b. A disbursement system that uses wire, telephone, or computers to transfer cash balances from one location to another. select a banking term EndorsementBank statementDeposit slipDebit memorandumCheckDepositorElectronic funds transfer (EFT)PayeeSignature cardPayerCanceled checkCredit memorandumAutomated teller machine (ATM)Maker c. A document provided by the bank that requires the signature of all authorized signers of checks. select a banking term…
Please help which option is the correct one
3.-The objective of accounts receivable management is to collect receivables as soon as possible without losing sales by applying high-pressure collection techniques. True or false?
Matching Question Match the banking term on the left with its definition on the right. Drag and drop application. Deposit ticket Deposit ticket drop zone empty. Check Check drop zone empty. Bank account Bank account drop zone empty. Remittance advice Remittance advice drop zone empty. Electronic funds transfer Electronic funds transfer drop zone empty. Lists currency, coins and checks deposited into an account Explains the reason for payment Used to deposit money for safekeeping and help control withdrawals. A document signed by the depositor instructing the bank to pay a specified amount of money Electronic transfer of cash from one party to another
You are going on an overseas trip and you want to have checks that are easily converted into local currency. You should purchase Group of answer choices conditional checks. cashier's checks. guaranteed checks. traveler's checks. certified checks
Fact Debit Card Credit Card Both Money is borrowed and repaid at a later date Money is automatically taken out of a checking account Great for emergency situations You may pay interest You may pay late fees May result in debt Acts as cash Convenient
help please answer in text form with proper workings and explanation for each and every part and steps with concept and introduction no AI no copy paste remember answer must be in proper format with all working
1. The way to build good credit is to: A. Secure a credit card, but never use it B. Pay off the credit card in full, each month C. Purchase unnecessary items D. All of these 2. Credit reports: A. Only report credit history under your current name B. Only report payments that were made on time C. Can only be secured without your permission D. Show any liens, foreclosures, or bankruptcies 3. Money coming in is called: A. Gross amount B. Expense C. Income D. All of these E. None of these
E8B. ACCOUNTING CONNECTION Developing a convenient means of reimbursing sales representatives with cash for their incidental expenses, such as for meals and supplies, is a problem many companies face. Under one company's plan, the sales representatives submit the receipts for reimbursement to the petty cash custodian. The representative then receives cash from the petty cash fund. What is the weak point in this system? What fundamental principle of internal con- trol is being ignored? What improvement in the procedure can you suggest?
Please help
PA8. LO 8.6Which of the following transactions will require a journal entry? Indicate if it will be a debit or a credit and to what account the entry will be recorded. Transaction No Journal Entry Needed Journal Entry Needed Debit Credit Outstanding check Interest income NFS check Wire transfer by customer Deposit in transit Bank charges