Choose the Word or Phrase in [ ] Which Will

question 102

Short Answer

Choose the word or phrase in [ ] which will correctly complete the statement. Select A for the first item, B for the second item, and C if neither item will correctly complete the statement.
-[Both the depositor and writer | Only the writer] of a "bad" check will likely be charged a fee by their/his banks/bank.

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Definitions:

IAS 16

International Accounting Standard 16 outlines the accounting treatment for most types of property, plant, and equipment, including their recognition, measurement, and disclosure requirements.

Revaluation of Machinery

The process of updating the book value of machinery to reflect its current market value.

Accumulated Depreciation

The total amount of depreciation expense that has been claimed on an asset since it was put into use, reducing its book value.

Gain on Revaluation

An increase in the value of an asset based on current market prices, resulting in a higher estimated worth than its recorded book value.