Deposits Made by a Company but Not Yet Reflected in a Bank

question 191

Multiple Choice

Deposits made by a company but not yet reflected in a bank statement are called

• A) Debit memoranda
• B) Deposits in transit
• C) Credit memoranda
• D) None of the above

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Definitions:

Marginal Cost

Is the cost of producing one additional unit of a good or service.

Least-cost Combination

An optimal mix of inputs that minimizes the cost of production while yielding a given level of output.

Net Gain

The difference between total revenues and total expenses, indicating the financial profitability of a transaction or activity.

Allocative Efficiency

A state of resource allocation where it is impossible to make any one individual better off without making at least one individual worse off, typically achieved when the economy effectively allocates resources to where they are most valued.