Accompanying the Bank Statement Was a Debit Memorandum for an NSF

question 16

Multiple Choice

Accompanying the bank statement was a debit memorandum for an NSF (not sufficient funds) cheque received from a customer.What entry is required in the company's accounts?

• A) DR Other revenue\(\quad\)\(\quad\)\(\quad\)\(\quad\)\(\quad\) CR Cash
• B) DR Cash\(\quad\)\(\quad\)\(\quad\)\(\quad\)\(\quad\)\(\quad\)\(\quad\)\(\quad\) CR Other revenue
• C) DR Cash\(\quad\)\(\quad\)\(\quad\)\(\quad\)\(\quad\)\(\quad\)\(\quad\)\(\quad\) CR Accounts receivable
• D) DR Accounts receivable\(\quad\)\(\quad\)\(\quad\) CR Cash

Analyze the effects of school integration and the fight against segregation.

Identify the characteristics and effects of the new conservative movement in the 1950s.

Understand the critique and resistance against conformity and materialism in the 1950s.

Understand the purposes and perceived benefits of social and industrial regulations.

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Definitions:

Swap Contract

A derivative contract through which two parties exchange financial instruments, typically involving cash flows based on a specified notional amount.

Specified Intervals

Pre-determined or agreed periods at which certain events or measurements take place.

Cash Flows

The total amount of money being transferred into and out of a business, especially as affecting liquidity.

Derivative Security

A financial instrument whose value is based on the performance of an underlying asset, such as stocks, bonds, commodities, or currencies.