All of the Following Are Considered to Be Cash EXCEPT

question 5

Multiple Choice

All of the following are considered to be cash EXCEPT

• A) cheques.
• B) debit card receipts.
• C) nonbank credit card slips.
• D) money orders.

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Definitions:

Holdback

A portion of funds or payment deliberately kept back until certain conditions are met or work is completed satisfactorily.

Fraudulent Preferences

Financial transactions made by a debtor before bankruptcy that unfairly favor one creditor over others.

Bankruptcy and Insolvency Act

Legislation governing bankruptcy and insolvency proceedings to help individuals and companies unable to meet their financial obligations.

Bankruptcy Offence

A criminal act committed before or during bankruptcy proceedings, such as fraud or the concealment of assets.