Checkable deposits are classified as money because , They can be readily used in purchasing goods and paying debts.Choice( A)
Explanation:
Any demand deposit account against which, one can write a check or a draft is called checkable deposit. It is mainly used when a person has to withdraw money, at a short notice and he can do so, without giving any prior notice to the bank.
These deposits help in immediate access to cash. As these deposits are available easily , they are considered to be assets. .
Its an asset for the person who withdraws, as he can withdraw anytime without notice. It is a liability to the bank as the bank has to pay it, whenever the customer asks for it.
As these checkable deposits are easily available, they can be readily used in purchasing goods and paying debts.
Answer: (B) Legal responsibility
Explanation:
The legal responsibility is one of the type of legal duty based on some laws and it basically helps in creating the foundation of the different types of values in an organization.
The legal responsibility plays an important role in an organization or any company as it helps in ensure all the legal formalities done by the company with the supplier, manufacturer or deals with the other company.
According to the given question, the Rizenton-pharm is one of the type of pharmaceutical company that producing the various types of chemical waste on regular basis that affect the government regulations and also environment. So, the pharm has flailed for fulfill their legal responsibility.
Therefore, Option (B) is correct answer.
I believe it's cross examination (the interrogation of a witness called by one's opponent). But I'm not 100% positive.
Answer:
$2,700
Explanation:
The computation of the unearned service revenue balance reported on the February 28 balance sheet is shown below:
= Total cash received - expired service revenue
= $3,600 - $900
= $2,700
The expired service revenue is
= Received amount ÷ number of months
= $3,600 ÷ 4 months
= $900
It is come by deducting the expired service revenue from the total cash received so that the balance could come
A 10-story office building is owned by a bank. This would be an example of a chequable deposit on the bank's balance sheet.
An organization's assets, liabilities, and shareholder equity are listed on a balance sheet, which is a financial statement. One of the three primary financial statements used to assess a company is the balance sheet. It offers a snapshot of the assets and liabilities of a corporation as of the publication date.
A balance sheet is a summary of the financial positions of a person or an organization in financial accounting, regardless of whether they are a sole proprietorship, a business partnership, a corporation, a private limited company, or some other type of entity like a government or not-for-profit entity.
Learn more about balance sheet here
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