Which of the following pieces of information would you not expect a potential credit customer to provide in a credit application form?

Q: Comparison between formal and informal business for bank account, bank charges,cost of sales and…

A: Formal and Informal Business A formal business is one that has a legal identity and is registered…

Q: Which one of the four methods of payments creates an accounts receivable?   Select one:   a.…

A: Accounts receivable: Accounts receivable refers to the amounts to be received within a short period…

Q: Question: 1. What is the correct source documents for credit purchase by business. 2. what is the…

A: Source Documents - Source Document is the document of proof for the transactions takes place.…

Q: do we need to check   the credit worthiness of credit customers before granting their credit…

A: Giving credit to the business and customers is main earning sources for banks but they need to take…

Q: How to record a credit invoice when the business has issued it but has not recorded it

A: Adjusting entries are recorded at the end of the accounting period to maintain the accrual base…

Q: n which journal is the receipt of a promissory note from a customer on account recorded ? a.…

A: Revenue journal is used for recording sales income. When sales are made Revenue a/c is credited and…

Q: In preparing a bank reconciliation, what is the proper treatment of a deposit in transit?

A: Deposit in transit (unrecorded deposit) is the amount that has been entered in the cash book of the…

Q: How are sales to customers using credit cards recorded?

A: Net sales means the amount of revenue earned and cost of goods sold means the cost of goods which…

Q: What is the name of the document used for recording credit sales

A: Credit sales means when goods and services are being sold to customers on credit basis and customers…

Q: BANK RECONCILIATION STATEMENT (definition and provide example) BANK STATEMENT (definition and…

A: In a reconciliation, two sets of records are compared to see if there are any discrepancies. In…

Q: What items are listed on a loan document

A: There are various kinds of loans that an individual can take from a bank or a financial institution.…

Q: when a company establishes a credit line with a bank, it is the same as borrowing from the bank True…

A: Credit line is similar to taking a loan but in credit line loan is taken on a regular basis. There…

Q: credit

A: Credit card can be defined as a payment card where line of credit is provided to the customers. With…

Q: Which of the following documents is issued by a customer to provide information about the  nature of…

A: Every transaction that takes place in a business should be recorded appropriately in the books of…

Q: Explain what important information we can get from each sources of credit information to be able to…

A: Financial organizations seek to reduce the risk of supplying to borrowers by completing a credit…

Q: what is the entry for purchase of supplies on account? * O debit supplies, credit cash O debit…

A: The journal entries are prepared to keep the record of day to day transactions of the business.

Q: Write in your own words which type of bank account would you like to open and explain why .

A: A Bank generally offers either time deposit accounts or a demand deposit account, Time deposit…

Q: rms: credit transfer, dishonoured cheque, standing order and give examples, the purposes, advantage

A: Credit transfer can refer to: The transfer of money from one account to another, also called a wire…

Q: it important to keep a record of credit card numbers separate from the cards?

A: Step 1 Information can be stolen, and usually, almost anywhere you do business. Most people are…

Q: From a bank's viewpoint, a customer's account in the bank is considered a: a.donation. b.liability.…

A: Bank statement: This is a periodic or monthly statement issued by bank reporting the account summary…

Q: The Select one: establishes procedures for resolving billing errors on credit card accounts and…

A: The question is asking us to identify the act that sets the procedures for resolving billing errors…

Q: Discuss, in general, what it means for the brothersto set a credit and collections policy

A: Answer: Credit and collection policy refers to the laws and regulations of the company governing the…

Q: Identify the types of bank accounts normally maintained by a business and explain

A: Answer: Bank accounts are the accounts that are used to deposit cash of the bank so that it is used…

Q: Can you allow credit period for an unknown customer based on the report of a credit rating agency?

A: A credit rating agency report may provide some information that could be used to assess the risk of…

Q: ow to record credit sale in an entrie?

A: Credit sales mean the amount which is delayed to paid but agreed to pay in future by the consumer.

Q: additional loan from bank should it be included in cash at hand/cash on bank

A: The company maintain certain amount of the cash for working capital management and smooth operations…

Q: If you offer gift cards to clients, when should you record your revenue

A: According to the revenue recognition policy, the timing of recording income in the books must be…

Q: One article  regarding  "Credit Transaction" issues and how it was resolved. Make a comment about…

A: To charge whatever they wish for credit. Usury laws set up a greatest pace of legitimate interest.…

Q: describe the structure of a bank bill. In your explanation, clearly distinguish the roles of the…

A: Introduction: An invoice of barter is a criminal assumption that binds one party to pay another a…

Q: A "receipt on account" results in a credit to: An A/P account Bank An A/R account Capital

A: Receipt on account means, cash received from previously made credit sales.

Q: The Select one: establishes procedures for resolving billing errors on credit card accounts and…

A: The objective of the question is to identify the correct act that establishes procedures for…

Q: Choose the correct answer: 5. Which of the following is considered effective? a. Certificates of…

A: Money Market Checking Accounts: A money market account, sometimes known as a money market deposit…

Q: Summarize the procedures to follow when accepting credit cards, bill-to-accounts, cash, checks, and…

A: There are different methods through which the customers make the payment to the company like for the…

Q: how can using a mix of Accounts Receivable, Notes Receivable and accepting Credit Cards can benefit…

A: Answer: Accounts receivables, notes receivables and accepting credit cards are three different modes…

Q: How can money be deposited into a Spruce account? Tax refund. Direct deposit. Linked bank…

A: Several options have been given to fund the Spruce Account. We have to find the correct answer.