In Preparing a Bank Reconciliation, the Amount Indicated by a Debit

question 72

True/False

In preparing a bank reconciliation, the amount indicated by a debit memorandum for bank service charges is added to the cash balance per books.

Grasp the function and significance of legal treatises, hornbooks, and other research aids.

Recognize the role and hierarchy of judicial interpretations and court decisions.

Understand the structure and utility of legal citations in case law research.

Learn about West’s key-number system and its application in legal research.

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Definitions:

Unconscionable

A term applied to a contract in which one party has so much more bargaining power than the other party that the powerful party dictates the terms of the agreement and eliminates the other party’s free will.

Warranty Of Title

An assurance, inferred in every Uniform Commercial Code (UCC) sales transaction, that the seller has good and valid title to the goods and has the right to transfer the title free and clear of any liens, judgments, or infringements of intellectual property rights of which the buyer does not have knowledge.

UCC

The Uniform Commercial Code delivers a full suite of legal stipulations for handling commercial transactions across the United States.

Lien

A legal claim or right against a property that can be used as collateral to satisfy a debt owed by the property owner.