Based on the Schedule of Interbank Transfers Above, Which of the Cash

question 48

Multiple Choice

Based on the schedule of interbank transfers above, which of the cash transfers indicates an error in cash cutoff at December 31, 2015?

• A) 1
• B) 2
• C) 3
• D) 4

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Definitions:

Gratuitous Assignment

A transfer of rights or property without consideration or payment from the recipient.

Written Statement

A formal, documented expression of facts or opinions, which is signed and usually legally binding.

Creditor Beneficiary

A third party that benefits from a contract made between two other parties, primarily involving debt repayment.

Life Insurance Policy

A contract between an insurer and an insured, where the insurer promises to pay a designated beneficiary a sum of money upon the death of the insured person.