Determine the Check Digit That Should Be Appended to the American

question 43

Multiple Choice

Determine the check digit that should be appended to the American Express Travelers Cheque identification number 783920381.

• A) 6
• B) 5
• C) 4
• D) 1

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Definitions:

Insurance Premium

The amount paid for an insurance policy, typically charged monthly or annually, for the duration of the policy.

Note Payable

A written promise to pay a specific amount of money, either on demand or at a set future date, typically evidenced by a formal legal document.

Adjusted Trial Balance

A list of all accounts and their balances after adjustments are made for accruals, deferrals, and other adjustments, used in the preparation of financial statements.

Closing Entries

Journal entries made at the end of an accounting period to transfer temporary account balances to permanent accounts.