Choose the Word or Phrase in [ ] Which Will

question 53

Short Answer

Choose the word or phrase in [ ] which will correctly complete the statement.Select "a" for the first item,"b" for the second item,and "c" if neither item will correctly complete the statement.
-A bank customer would expect to be able to write checks on his regular checking account and on his [certificate of deposit | NOW account].

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Definitions:

Note Payable

It represents a written promise to pay a specified amount of money, usually with interest, by a certain date.

Journalize

The process of recording transactions in a company's journal, documenting the details of financial transactions and their effects on the accounts.

Office Supplies

Consumable items used in an office environment for daily operations, such as paper, pens, and staplers.

Paid Cash

The action of disbursing money to settle a transaction or obligation.