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If the balance of the credit card is not fully settled, the cardholder will have to pay a
A.Right
B.Wrong
C.Doesn't say
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A.Right
B.Wrong
C.Doesn't say
(b) Explain the matters that should be considered when planning the nature and scope of the examination of
Cusiter Co’s forecast balance sheet and income statement as prepared for the bank. (7 marks)
A.$8,000 debit balance
B.$8,000 credit balance
C.S9,000 credit balance
D.$9,000 debit balance
A.Added to the balance per the bank statement.
B.Deducted from the balance per the bank statement.
C.Added to the balance per the depositor's records.
D.Deducted from the balance per the depositor's records.
Which of the following statements is not true of a trial balance?______.
A.A trial balance is a list of balances of ledger accounts worked out periodically.
B.A trial balance can detect an omission in the recording of the accounting data.
C.A trial balance provides an accuracy check by showing whether or not total debits equal total credits.
D.If total debits do not equal total credits in a trial balance, accounting error has occurred somewhere in journalizing or posting.
The main liability on a bank balance sheet is ______.
A.deposits
B.capital and reserves
C.loans and overdrafts
D.cash
A.as an asset
B.as a decrease in stockholders equity
C.as an increase in stockholders equity
D.treasury stock is not shown on the balance sheet