Basic Bank Services Do Not Include

question 92

Multiple Choice

Basic bank services do not include:

• A)Bank accounts.
• B)Bank deposits.
• C)Checking.
• D)Electronic funds transfer.
• E)Petty cash management.

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Definitions:

Net Income

The total profit or loss of a company after all revenues, costs, and expenses have been accounted for.

Bad Debt Expense

An estimated expense recognized by businesses for accounts receivable that are considered unlikely to be collected.

Salvage Value

The projected value of an asset when it reaches the end of its operational lifespan.

Useful Life

The estimated time period an asset is expected to be used by a company before it is no longer useful or becomes obsolete.