Answer:
D) deduction from the balance per bank statement
Explanation:
A bank reconciliation statement is a document that matches the cash balance on a company’s balance sheet to the corresponding amount on its bank statement. Reconciling the two accounts helps determine if accounting changes are needed. Bank reconciliations are completed at regular intervals to ensure that the company’s cash records are correct. They also help detect fraud and any cash manipulations.
Answer:
The correct answer to the following question is option A) .
Explanation:
One way in which firms identify customer is through observational characteristics which can be age, by knowing the average of their target customers , a firm can know whether their target customers would be willing to wait in long lines or not for getting the firms product. As if their target customers mainly consists of old age then those customer won't be willing to wait in long lines to get the product.
Answer:
E. All of the steps above are appropriate to take if she suspects identity theft.
Explanation:
Under suspicion of identity theft, it is better to take all the preventive measures listed in the example before the person who has stolen your debit card and checks makes use of them and steals the money in your bank account or makes big purchases.
Answer: A company can only record a liability when it knows whom to pay, when to pay, and how much to pay
Explanation:
A liability is simply defined as the amount that a particular company owes. Liabilities consist of loans, accrued expenses, defered revenue, and accounts payable.
We should note that liabilities can involve uncertainty in whom to pay. Also, a company can have an obligation of a known amount to a known creditor, but not know when it must be paid.
Based on the options given in the question, the answer will be "a company can only record a liability when it knows whom to pay, when to pay, and how much to pay".
