The Classification of a Corporation Depends on Its

question 89

Multiple Choice

The classification of a corporation depends on its

• A) purpose.
• B) ownership.
• C) location.
• D) All of these choices are correct.

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Definitions:

NSF Check

A check that has been returned by the bank because the account on which it was drawn did not have sufficient funds.

Deposits In Transit

Funds that have been sent to a bank but not yet recorded in the bank's records, resulting in a discrepancy between the company's cash records and bank statement.

Bank Service Charge

A fee charged by a bank to a customer for account maintenance or other banking services.

NSF

An acronym for Non-Sufficient Funds, referring to a situation where a bank account does not have enough money to cover a presented check or withdrawal.