Determine the Check Digit That Should Be Appended to the Bank

question 45

Multiple Choice

Determine the check digit that should be appended to the bank identification number 04200052.

• A) 1
• B) 3
• C) 7
• D) 9

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Definitions:

Nonmonetary Asset

Nonmonetary assets are items of value owned by a company that cannot be directly converted into cash, such as property and equipment.

Book Value

The net value of a company's assets minus its liabilities, often used to assess whether a stock is under- or over-valued.

Sham Exchanges

Transactions with no substantive economic reality, designed to give the appearance of legitimate business activity, often for deceptive purposes.

GAAP

Generally Accepted Accounting Principles, a set of accounting standards and procedures used in the United States for financial reporting.