A ________ Is a Check That Is Written on Behalf

question 23

Multiple Choice

A ________ is a check that is written on behalf of an individual and will be charged against a large well-known financial institution or credit card sponsor's account.

• A) cashier's check
• B) money order
• C) traveler's check
• D) personal check

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Definitions:

Year-End Adjustment

Journal entries made at the end of an accounting period to account for incomes and expenditures in the correct accounting period.

Lower Of Cost

Refers to the accounting principle of valuing and reporting assets at the lower of its historical cost or the market value.

Original Cost

The purchase price of an asset or service, including installation fees, transportation costs, and other expenses required to bring an asset into a usable state.

Investment Account

A financial account held at a financial institution that contains securities, cash, and other assets managed for the purpose of investment.