A ________ Is a Document Explaining the Reasons for the Difference

question 233

Multiple Choice

A ________ is a document explaining the reasons for the difference between a depositor's Cash account in the ledger and the depositor's cash balance in its bank account.

• A) bank statement
• B) deposit receipt
• C) bank reconciliation
• D) remittance advice

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Definitions:

Innocent Misrepresentation

a false statement made without knowledge of its falsity, but not intended to deceive, which may allow for some remedies if it leads another party to enter into a contract under false pretenses.

Scienter

In cases of fraud and deceit, the word means knowledge on the part of the person making the representations, at the time when they are made, that they are false. In an action for deceit, scienter must be proved.

Duress

A situation where a person is forced to perform an act against their will or face threats, violence, constraints, or other action upon their person or property, which is used as a means to compel their agreement or action.

Undue Influence

A situation where an individual is able to influence another person's decisions due to a special relationship, often leading to unfair advantages.