answer the following:

q1: Why would a financial adviser recommend a bank account?

a. The returns are higher than investing on the stock market.

b. The adviser gets commission from the bank.

c. It makes budgeting easier.

d. It ensures safety of money.

q2: A bank account protects the company from overdue bill with_______

a. mail banking

b. online banking

c. standing orders

d. telephone banking

q3: What has been happening to bank fees over the years?

a. Decreasing

b. Staying the same

c. Fluctuating

d. Increasing

task b: answer the following.

q1: Differentiate a savings account from a current or checking account.

task c: do the ff.

1. What are deposits in transit?

2. What are outstanding checks?

3. What is bank service charge

4. What is NSF check?

5. What is the adjusting entry to record in the book the following:

a. Deposit in Transit

b. Outstanding Check

c. Bank service charge

d. NSF check

e. Note collected by the bank

f. Errors committed by the bank