When Reporting Errors or Unauthorized Transactions,it Is Best to Notify

question 65

Multiple Choice

When reporting errors or unauthorized transactions,it is best to notify your bank

• A) by telephone
• B) by letter,keeping a copy for your files.
• C) by telephone and follow up with a letter and keep a copy for your files
• D) none of the above

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Definitions:

Service Revenue

Income earned by a company for performing a service rather than selling physical goods.

Salaries and Wages Expense

The total amount paid to employees for services rendered during a specific period; considered an operating expense.

Unearned Subscription Revenue

Income received from subscriptions before the service has been fully delivered or the term of the subscription has been fulfilled.

Liability

Financial obligations or debts that an entity owes to another party, which need to be settled over time through the transfer of economic benefits including money, goods, or services.