The bank collected a Note Receivable for the company and credited the company's bank account for P20,000. A. Added to the bank balance B. Added to the book balance C. Subtracted from the bank balance D. Subtracted from the book balance

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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1. The bank collected a Note Receivable for the company and credited the company's bank account for P20,000. A. Added to the bank balance B. Added to the book balance C. Subtracted from the bank balance D. Subtracted from the book balance 2. The following are requisites of a valid tax, EXCEPT A. tax must not encroach upon inherent and Constitutional limitations B. the rule of taxation should be uniform C. tax should be used for public purpose D. tax is payable in money only
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