A Deposit Receipt Is ________

question 142

Multiple Choice

A deposit receipt is ________.

• A) retained by the customer as proof of a deposit transaction
• B) the same as a signature card
• C) used by the bank as an alternative to a remittance advice
• D) given by the customer to the bank as a proof of deposit

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Definitions:

Inventory

the total amount of goods or materials held in stock by a company, available for sale or use in production.

Noncash Expense

Expenses recorded on the income statement not requiring actual cash outflow, such as depreciation and amortization.

Depreciation

The accounting practice of allocating the cost of a tangible or physical asset over its useful life, reflecting the decrease in value of the asset over time.

Operating Costs

Expenses related to the core functions of running a business, including manufacturing and service delivery.