Which of the Following Is the Appropriate Action to Take

question 38

Multiple Choice

Which of the following is the appropriate action to take in the event of an accident?

• A)If possible,move your car out of traffic and collect information using an accident checklist.
• B)As long as no one is injured,remain in place and contact your insurance company to come and document the specifics so they can determine fault.
• C)Contact the police immediately and stay where you are regardless of how minor the accident was.
• D)If you feel the other driver might be guilty of a Criminal Code offence such as drunk driving,conduct a Citizen's arrest.

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Definitions:

Credit Register

A ledger or record keeping system that tracks credit transactions, including purchases and payments on account.

Bank Errors

Mistakes made by a bank in the recording of transactions, which can include discrepancies in account balances and unauthorized transactions.

Cash Account

A cash account refers to a brokerage account where the investor must pay the full amount for securities purchased, as opposed to buying on margin.

Unrecorded Charges

Expenses or financial obligations that have not been documented in the accounting records, potentially leading to discrepancies.