If the Written Amount on the Check Does NOT Match

question 80

Multiple Choice

If the written amount on the check does NOT match the amount expressed in figures, the bank may:

• A) pay the amount written in words.
• B) return the check unpaid.
• C) contact the drawer to see what was meant.
• D) All of the above are correct choices.

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Definitions:

Accounts Receivable

Money owed to a business by its customers for goods or services that have been delivered but not yet paid for.

Horizontal Analysis

Horizontal analysis is a financial analysis technique that compares historical financial data across different periods, to identify trends and growth patterns by analyzing changes in line items.

Base Year Amount

A reference value of an economic indicator or financial metric used for comparison over time, typically set in a specific starting year.

Horizontal Analysis

A financial analysis technique that compares historical financial information over a series of reporting periods, to observe trends and changes over time.