Under US GAAP, Bank Overdraft Should Generally Be Reported as ________

question 85

Multiple Choice

Under U.S. GAAP, bank overdraft should generally be reported as ________.

• A) a decrease in the balance of Cash and Cash Equivalents
• B) a decrease in other current assets
• C) an increase in operating expenses
• D) an increase in current liabilities

---

Definitions:

Atlantic Ocean

The second-largest ocean on Earth, bordered by the Americas to the west and Europe and Africa to the east, covering approximately 20 percent of the Earth's surface.

Resources

Assets, materials, or systems available to an individual, organization, or society that can be utilized to achieve desired goals.

Sacred Spirits

Refers to divine or supernatural beings that are considered holy or revered in various religious and spiritual beliefs.

Religious Ceremonies

Formal and ritualistic acts of worship which are conducted to express or affirm spiritual or religious beliefs and ideas.