The Best Interpretation of the Word Credit Is the

question 21

Multiple Choice

The best interpretation of the word credit is the

• A) right side of an account.
• B) offset side of an account.
• C) increase side of an account.
• D) decrease side of an account.

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Definitions:

Dishonors

Refers to the refusal or inability of a party to accept or pay a bill of exchange, check, or draft when presented for payment.

Liability

Being under a legal obligation to answer for something, especially with respect to owing money or fulfilling legal requirements.

Mortgage Interest Rates

The cost of borrowing money expressed as a percentage of the total amount of the loan, applied to mortgages.

NSF Charges

Non-Sufficient Funds (NSF) charges are fees charged when a transaction is attempted on an account without adequate funds to cover it.