The Class Option Bank Is Needed for Accounts Used for -

question 27

Multiple Choice

The class option Bank is needed for accounts used for -

• A)payments by cheque in the purchases and payments journals
• B)deposits of receipts from customers
• C)credit card receipts from customers
• D)a and b above are correct

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Definitions:

Par Value

A nominal or face value given to a share of stock or a bond, often used in accounting to determine legal capital or in the issuance of shares.

Common Stock

Type of equity security that represents ownership in a corporation, with rights to vote on corporate matters and receive dividends.

Par Value

A nominal value assigned to shares of stock in a company's charter, not necessarily reflecting market value.

Common Stock

A type of equity security that represents ownership in a corporation, giving holders voting rights and a share in the company's profits through dividends.