A Symbol or Mark May Act as an Individual's Signature

question 43

True/False

A symbol or mark may act as an individual's signature as per the Statute of Frauds and the UCC's requirement that a written contract must be signed by the party against whom enforcement is sought.

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Definitions:

Correcting Entry

An accounting entry made to amend errors found in the financial statements after they have been finalized.

Balance Incorrectly

An error condition where the totals of the debit and credit sides of an account (or the entire accounting ledger) do not match.

Trial Balance Preparation

The process of summarizing all the financial transactions in a company's general ledger accounts to ensure debits equal credits.

Account Balance

The amount of money in a financial repository, such as a checking account or investment account, at any given time.