Customer Deposits Are Entered as -

question 34

Multiple Choice

Customer deposits are entered as -

• A)positive amounts in the sales journal
• B)positive amounts in the receipts journal
• C)negative amounts in the receipts journal
• D)none of the above

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Definitions:

Objective Test

A standard or criteria based on factual measures, independent of personal feelings or opinions, used to assess a person's situation or actions.

Duress

A situation where a person performs an act as a result of violence, threat, or other pressures against them, questioning the voluntariness of their decision.

Tort

A civil wrong that causes someone else to suffer loss or harm resulting in legal liability for the person who commits the tortious act.

Material Misrepresentation

False statements or omissions of fact that are so significant they affect a party's decision to enter into a contract.