When Preparing a Bank Reconciliation,an NSF Check Will

question 139

Multiple Choice

When preparing a bank reconciliation,an NSF check will:

• A)Increase the balance per depositor's records.
• B)Decrease the balance per depositor's records.
• C)Increase the balance per the bank statement.
• D)Decrease the balance per the bank statement.

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Definitions:

Voidable

A term referring to a contract or transaction that is valid and enforceable but may be declared void by one party due to certain defects.

Minor

An individual under the age of legal adulthood, typically under 18, and thus is limited in their legal capacity to make certain types of decisions or enter into contracts.

Irrevocable

Something that cannot be changed, reversed, or taken back once it has been established or done.

Grantor

The individual or entity that establishes a trust, transfers property, or conveys rights to another person or entity.