Transactions Are Entered in the Journal in Chronological Order

question 3

True/False

Transactions are entered in the journal in chronological order.

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Definitions:

Sufficient Funds

A term referring to the adequate amount of money in an account to cover drafts, checks, or transactions.

Electronic Funds Transfer Act

A U.S. law designed to protect consumers engaging in electronic transfer of funds, including ATM transactions and direct deposits.

Provisionally

On a temporary or conditional basis, pending further information, qualification, or fulfillment of certain conditions.

Investigate

To carry out a systematic or formal inquiry to discover and examine the facts of an issue, so as to establish the truth.