The Following Items May Appear on a Bank Statement

question 189

Essay

The following items may appear on a bank statement:
1.NSF check
2.EFT deposit
3.Service charge
4.Bank correction of an error from recording a $300 deposit as $30.​
Indicate whether the item would appear as debit or credit memo on the bank statement and whether the item would increase or decrease the balance of your account. Use the following format:

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Definitions:

Transitive Preferences

In decision-making, the condition where if an individual prefers option A to option B and option B to option C, then they also prefer option A to option C.

Majority Rule

A decision-making rule in which the preferences of more than half of the members in a group have authority over decisions.

Transitivity Property

is a mathematical concept applied in various fields, indicating that if relation A is related to B, and B is related to C, then A is necessarily related to C.

Adverse Selection

A scenario where information asymmetry results in high-risk individuals being more likely to engage in agreements, negatively affecting the other party.