Which Data Are Generally Not Included on a Check

question 15

Multiple Choice

Which data are generally not included on a check?

• A) Date of the check
• B) Signature of the party writing the check
• C) Address of the payee
• D) Amount the bank is to pay the payee
• E) Name of the bank on which the check was drawn

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Definitions:

Credit Sales

Transactions where goods or services are sold by a company with payment to be received at a later date.

Operating Cycle

The duration between a company's purchase of inventory and the receipt of cash from accounts receivable.

Accounts Receivable Period

The average number of days it takes for a business to receive payments owed by its customers for goods or services provided.

Inventory Period

The average time that inventory is held before it is sold or used in production.