If the First and Third Digits of a Bank Identification

question 7

Short Answer

If the first and third digits of a bank identification number are transposed, can the check digit detect the error? Explain.

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Definitions:

Consolidated Balance Sheet

A financial statement that shows the combined assets, liabilities, and equity of a parent company and its subsidiaries.

Land

An asset representing the surface of the earth owned by an individual or organization, not including the buildings or resources above or below it.

Impairment Loss

A reduction in the recoverable value of an asset that is greater than its carrying amount on the balance sheet.

Effective Tax Rate

The average percentage of income that an individual or corporation pays in taxes, considering various deductions and credits.