A Check Drawn by a Depositor for $915 in Payment

question 65

Multiple Choice

A check drawn by a depositor for $915 in payment of a liability was recorded as $195.What adjustment is required in the depositor's accounts?

• A)Decrease Accounts Payable;decrease Cash
• B)Increase Cash;decrease Accounts Receivable
• C)Increase Cash;increase Accounts Payable
• D)Increase Accounts Receivable;decrease Cash

Identify the legal requirements for warranties and the consequences of warranty disclaimers.

Understand the principles and legal consequences of deceptive practices and advertising regulations.

Grasp the significance of specific acts such as the Magnuson-Moss Act, Dodd-Frank Act, and Gramm-Leach-Bliley Act in consumer law.

Recognize the impact of internet and financial regulations on consumer protection.

---

Definitions:

Industry Entry

The process of a new competitor or company beginning operations in a specific market or industry.

MR

Marginal Revenue, the additional income that is gained from selling one more unit of a product or service.

Profit-Maximizing

A strategy or approach aimed at achieving the highest possible profit from business operations.

Positive Profits

A financial gain that occurs when the revenues generated from business activities exceed the costs and expenses involved in operating the business.