The Notification Accompanying a Check That Indicates the Specific Invoice

question 89

Multiple Choice

The notification accompanying a check that indicates the specific invoice being paid is called a

• A) remittance advice
• B) voucher
• C) debit memo
• D) credit memo

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Definitions:

Joint And Several

Legal terminology indicating that all parties involved can be collectively or individually responsible for the full amount of liability.

Issue Negotiable Instruments

The act of creating financial documents, such as checks or promissory notes, that are transferable from one party to another in exchange for value.

Borrow Money

The act of obtaining funds from another party (such as a bank or individual) under the agreement to repay the principal amount along with interest or other charges.

Ordinary Course Of Business

Activities and operations that are considered normal, routine, and in the usual scope of a company's business practices.