On a Bank Statement, Paid Checks Are Shown as

question 176

Multiple Choice

On a bank statement, paid checks are shown as

• A)credits.
• B)debits
• C)assets.
• D)liabilities.

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Definitions:

Conspicuous Statement

A statement or notice that is made to stand out clearly and be easily noticed, often requiring a specific form of presentation to ensure visibility.

Negotiable Instrument

A document guaranteeing the payment of a specific amount of money, either on demand or at a set time, with the payee’s name written on the document.

Negotiability

The characteristic of a financial instrument that allows it to be transferred or assigned from one party to another, facilitating commerce and trade.

Electronic Deposit

The transfer of funds directly into a bank account, eliminating the need for physical checks.