Question
Hanna works as a teller a bank. One of Hanna's clients, an out of province student, started to consistently deposit large amounts of cash in
Hanna works as a teller a bank. One of Hanna's clients, an out of province student, started to consistently deposit large amounts of cash in the form of $5, $10, and $20 Bills. Hanna asked her client the source of these funds.The client said, it is from her parents.
A. Should Hanna report this transaction?
B. If you select A, What are the penalties for not reporting this transaction?
Step by Step Solution
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Step: 1
A Yes Hanna should report this transaction Large cash deposits especially from ...
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College Accounting
Authors: Heintz and Parry
20th Edition
1285892070, 538489669, 9781111790301, 978-1285892078, 9780538489669, 1111790302, 978-0538745192
