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:

Value Basis

A method for assessing the value of assets, typically the original cost of the asset adjusted for factors such as depreciation.

Lumber Mill

A facility where logs are cut into timber, undergoing processes from debarking to sawing and sometimes further processing.

Board Feet

A volume measurement used in the lumber industry, equivalent to a piece of wood that is one foot long, one foot wide, and one inch thick.

Responsibility Accounting System

An accounting system that measures the results of each responsibility center and relates them to managers responsible for those centers.