Utility Is

question 88

Multiple Choice

Utility is:

• A) a way of describing a consumer's wants.
• B) only applicable to goods that are purchased.
• C) a measure of a consumer's income
• D) All of these are true.

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Definitions:

Outstanding Deposits

Money that has been deposited into a bank account but has not yet been processed or credited to the account.

Outstanding Check

One that has been written but hasn’t yet cleared the bank and been charged to the customer’s account.

Adjusted Cash Balance

An amount reflecting the true cash balance after accounting for outstanding checks or deposits in transit.

Check Register

A check register is a record book used to track checks written, deposits made, and the current balance of a checking account.