When You See the Message That Your Bank Account Is

question 36

Multiple Choice

When you see the message that your bank account is overdrawn after posting a payment,you should −

• A)call the bank to arrange for overdraft protection
• B)call the bank to cancel the cheque before the supplier can deposit it
• C)require your customers to settle their accounts to increase your bank account balance
• D)none of the above

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Definitions:

Ownership Claim

The legal right or interest that an owner possesses in property, assets, or a company, granting the power to control or dispose of it.

Debtor Claim

A demand for repayment from a debtor; may refer to the legal right to demand money owed.

Limited Liability

A legal structure that limits the personal financial responsibility of owners for the debts and actions of a business.

Corporation

A legal entity distinct from its owners, offering limited liability to its shareholders, and capable of owning assets, incurring debt, and conducting business.