Lana Wrote a Check Knowing That She Did Not Have

question 18

Multiple Choice

Lana wrote a check knowing that she did not have sufficient funds in her account.What is this practice called?

• A)check kiting
• B)bouncing a check
• C)check forgery
• D)check covering

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Definitions:

Owned By

Indicates possession or ownership of an asset, property, or company by an individual, group, or entity.

Accounting Equation

The fundamental principle of accounting that states assets equal liabilities plus owner's equity, providing the foundation for double-entry bookkeeping.

Supplies

Items used in the operation of a business that are consumed or are not permanent, such as stationery, cleaning products, and office supplies.

Limited Liability Company (LLC)

A company framework that merges the tax responsibilities of a partnership or sole proprietorship with the corporation's benefit of limited liability.