A ________ Is a Telegraphic Communication That, Via Bookkeeping Entries

question 269

Multiple Choice

A ________ is a telegraphic communication that, via bookkeeping entries, removes funds from the payer's bank and deposits them in an account of the payee's bank.

• A) direct send
• B) wire transfer
• C) depository transfer check
• D) preauthorized check

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Definitions:

Amortize

The process of spreading out a loan or an intangible asset cost over a specific period of time for accounting and tax purposes.

Accumulated Depreciation

The total depreciation that has been applied to a fixed asset since it was acquired, representing the loss of value over time.

Balance Sheet

A financial record showing the balance of assets, liabilities, and equity of shareholders of an enterprise on a specific date.

Fair Market Value

The price that a property would sell for on the open market, between a willing buyer and a willing seller.