If a bank receives an item payable from a customers account in which there are insufficient funds,
Question:
If a bank receives an item payable from a customer’s account in which there are insufficient funds, the bank cannot pay the item.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 100% (2 reviews)
The statement is True A bank cannot pay an item such as a check from a customers account if there ar...View the full answer
Answered By
Keziah Thiga
I am a self motivated financial professional knowledgeable in; preparation of financial reports, reconciling and managing accounts, maintaining cash flows, budgets, among other financial reports. I possess strong analytical skills with high attention to detail and accuracy. I am able to act quickly and effectively when dealing with challenging situations. I have the ability to form positive relationships with colleagues and I believe that team work is great key to performance. I always deliver quality, detailed, original (0% plagirism), well-researched and critically analyzed papers.
4.90+
1504+ Reviews
2898+ Question Solved
Related Book For
Business Law Text And Exercises
ISBN: 9780357717417
10th Edition
Authors: Roger LeRoy Miller, William E. Hollowell
Question Posted:
Students also viewed these Social Science questions
-
1.Which of the following below is NOT an element of internal control? a. risk assesment b. monitoring c. information and communication d. behavior analysis ANSWER:D 2. Which of the following below is...
-
A small consulting company wants to make the switch to QuickBooks Online. All of their expenses are paid at the time they are incurred, so there is no need to track bills in the system. There is only...
-
I The case * * * involves a bank check. A check is defined as a draft payable on demand and drawn on a bank. [UCC] 3204.*** The case * * * arises from Petitioners irritation with the Bank of Americas...
-
John Wilson is a conservative investor who has asked your advice about two bonds he is considering. One is a seasoned issue of the Capri Fashion Company that was first sold 22 years ago at a face...
-
A kennel of 640 square feet is to be constructed as shown. The cost is $4 per running foot for the sides and $1 per running foot for the ends and dividers. What are the dimensions of the kennel that...
-
[Note] To answer next 4 questions that require joint cost allocations, refer to the following information (this same data will appear on each screen of the related question!): Sawmill, Inc. processes...
-
Name and describe the eight dimensions to quality. LO.1
-
Harold, a CPA, has a new client who recently moved to town. Harold prepares the client's current-year tax return, which shows a net 1231 gain. Harold calls the client to request copies of the...
-
On July 1, 2020, Ayayai Corporation purchased the net assets of Soorya Company by paying $424,000 cash and issuing a $51,600 note payable to Soorya Company. At July 1, 2020, the statement of...
-
A bank in the collection chain must normally pass a check on before midnight of the next banking day following receipt.(TRUE/FALSE)
-
If a bank pays a stale check in good faith without consulting the customer, the bank cannot charge the customers account. (TRUE/FALSE)
-
What is a data-flow diagram? Why do systems analysts use data-flow diagrams?
-
Mail - Jame Mail - Jame x a Amazon.co x a Amazon.co. X https://gpt x _ Calendar - - C * gptc.blackboard.com/webapps/blackboard/content/contentWrapper.jsp?content_id=_1846554 GEORGIA PIEDMONT...
-
Prepare a partnership return and the appropriate K-1s for W & M Partnership. William Winston (SSN: 226-00-4265) lives at 53 Mantis Road, Your City, Your State - Your Zip. He operates Lovely Lady...
-
A new store is opening in Rock Spring, with 175,000 available square feet. Each department must have at least 17,000 square feet and no department can have more than 24% of the total retail floor...
-
Following is a partially completed balance sheet for Epsico Incorporated at December 31, 2022, together with comparative data for the year ended December 31, 2021. From the statement of cash flows...
-
Stockholders of Sarasota Company, Riverbed Company, and Pronghorn Company are considering alternative arrangements for a business combination. Balance sheets and the fair values of each company's...
-
The Ripcord Parachute Club of Burlington employs three people and pays them on a weekly basis. Payroll data for the four weeks in February 2012 are shown below: Week 1February Week 2February Week...
-
A survey of 70 college freshmen asked whether students planned to take biology, chemistry, or physics during their first year. Use the diagram to answer each question. How many of the surveyed...
-
Christine and Doug are married. In 2022, Christine earns a salary of $250,000 and Doug earns a salary of $50,000. They have no other income and work for the same employers for all of 2022. How much...
-
Skylar is single and earns $410,000 in salary during 2022. What is the amount of 0.9 percent Medicare tax for high-income taxpayers that his employer must withhold from his wages? a. $1,890 b. $1,800...
-
Define income in respect of a decedent and provide an example of IRD.
-
you are analyzing the cost of debt for a firm. Do you know that the firms 14 year maturity, 7.8 Percent coupon bonds are selling at a price of $834. The Barnes pay interest semi annually. If these...
-
***Please answer the following using excel and showcasing the formulas/calculations used*** thank you so much Financial information on AAA Ltd. is shown below. AAA Ltd. Income Statement For the Year...
-
2. In an account Anh Paglinawan currently has $216,670.00. At a rate of 8.00% how long will it take for them to have $298,390.00 assuming semi-annually compounding? (Hint: compute the exact years, do...
Study smarter with the SolutionInn App