A Company Stamps Checks Received in the Mail with the Words

question 85

Multiple Choice

A company stamps checks received in the mail with the words "For Deposit Only". This endorsement is called a(n)

• A) blank endorsement.
• B) rubber stamp.
• C) restrictive endorsement.
• D) operational endorsement.

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Definitions:

T-Account

A visual representation used in accounting to depict the debit and credit sides of individual accounts.

Debit

A debit is an accounting entry that increases an asset or expense account, or decreases a liability or equity account, and is reflected on the left-hand side of an accounting ledger.

Liability Accounts

Accounts on a company's balance sheet that represent amounts owed to creditors, including loans, accounts payable, and other financial obligations.

Utilities Expense

Costs incurred for essential services such as electricity, water, gas, and sewage treatment in the operation of a business.