x
Info
x
Warning
x
Danger
 / 
 / 
 / 
              99.All of the following parties to a check except

Question :               99.All of the following parties to a check except : 1542365

              99.All of the following are parties to a check except the

a.bank.

b.Federal Reserve.

c.maker.

d.payee.

              100.When opening a bank checking account, a signature card

a.indicates to whom money is to be paid.

b.indicates each person authorized to sign checks on the account.

c.is attached to all pre-printed checks.

d.is required only when dealing with an out-of-state bank.

              101.Which one of the following is not necessarily a party to a check?

a.Maker

b.Buyer

c.Payee

d.Payer

              102.A bank statement

a.lets a depositor know the financial position of the bank as of a certain date.

b.is a credit reference letter written by the depositor's bank.

c.is a bill from the bank for services rendered.

d.shows the activity which increased or decreased the depositor's account balance.

              103.Which one of the following would not cause a bank to debit a depositor's account?

a.Bank service charge

b.Collection of a note receivable

c.Wiring of funds to other locations

d.Checks marked NSF

              104.A company maintains the asset account, Cash in Bank, on its books, while the bank maintains a reciprocal account which is

a.a contra-asset account.

b.a liability account.

c.also an asset account.

d.an owner's equity account.

105.A remittance advice attached to a company check provides

a.details about the running cash balance in the checking account.

b.the magnetic bank routing numbers.

c.the explanation of the purpose of the check.

d.the signature space for the maker.

106.A deposit made by a company will appear on the bank statement as a

a.debit.

b.credit.

c.debit memorandum.

d.credit memorandum.

107.A check returned by the bank marked "NSF" means

a.no service fee.

b.no signature found.

c.not satisfactorily filled-out.

d.not sufficient funds.

108.A debit memorandum would not be issued by the bank for

a.a bank service charge.

b.the issuance of traveler's checks.

c.the wiring of funds.

d.the collection of a notes receivable.

 

 

Solution
5 (1 Ratings )

Solved
Accounting 9 Months Ago 99 Views
This Question has Been Answered!
Unlimited Access
Explore More than 2 Million+
  • Textbook Solutions
  • Flashcards
  • Homework Answers
  • Documents
Signup for Instant Access!
Ask an Expert
Our Experts can answer your tough homework and study questions
150233 Accounting Questions Answered!
Post a Question