A Debit Memorandum Means That an Amount Was Added to the Bank

question 124

True/False

A debit memorandum means that an amount was added to the bank balance; a credit memorandum means that an amount was deducted.

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Definitions:

Liable

Being legally responsible for something, typically involving financial compensation or reparations.

Encodes Information

Involves converting data or information into a particular form, especially to prevent unauthorized access or understanding.

Warrants

Financial instruments that give the holder the right to purchase a company's stock at a specified price before a certain date.

Forges

Workshops or places equipped with heavy tools and machinery for shaping metal by heating and hammering.