Logan Paid a Bill with a Special Form

question 114

Multiple Choice

Logan paid a bill with a special form. He received this form at his financial institution and had to pay the amount of the check plus a fee. He used a

• A) Certified check.
• B) Cashier's check.
• C) Merchant's check.
• D) Personal check.
• E) Traveler's check.

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Definitions:

AASB 12/IFRS 12

Refers to the accounting standard related to the disclosure of interests in other entities, requiring information about subsidiaries, joint arrangements, and associates.

Non-controlling Interests

The share of ownership in a subsidiary that is not owned, directly or indirectly, by the parent company.

Significant Restrictions

Limitations or constraints that significantly impact the use, transfer, or disposal of assets or resources.

AASB 3

An accounting standard provided by the Australian Accounting Standards Board relating to Business Combinations, guiding the accounting treatment for all phases of the acquisition process.