On a Bank Statement, Deposits Are Listed as Debits Because

question 76

True/False

On a bank statement, deposits are listed as debits because the bank increases its cash account when the deposit is made.

---

Definitions:

Business Judgment Rule

A principle that protects corporate executives from liability for decisions made in good faith and believed to be in the best interest of the company.

Stakeholders

Individuals or groups that have an interest or stake in the performance and decisions of an organization, project, or outcome.

Shareholders

Individuals or entities that own shares in a corporation, giving them ownership interests and rights within the company.

Sarbanes-Oxley

A federal law that set new or expanded requirements for all U.S. public company boards, management, and public accounting firms.