The Practice Where a Cheque Is Paid into a Bank

question 12

Multiple Choice

The practice where a cheque is paid into a bank account of an entity in a group of companibefore balance date but recorded by the payer as a disbursement that occurred after balance date is known as:

• A) kiting
• B) lapping
• C) low-balling
• D) none of the above.

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Definitions:

Corn

Refers to a cereal plant that yields large kernels on a cob, also a staple food in various regions.

Troy Oz

A unit of measure for precious metals, equivalent to approximately 31.1035 grams, used in the commodities market.

July Silver Contract

A futures contract for the delivery of a specified amount of silver in the month of July.