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Answer the following question: It is an event where money moves into or out of an account. a. Transaction b. Opening and closing balance C. Credit transaction d. Debit transaction This is a bank unt uced to dopocit and 1 mo Lucing tho bar

Answer the following question: It is an event where money moves into or out of an account. a. Transaction b. Opening and closing balance C. Credit transaction d. Debit transaction This is a bank unt uced to dopocit and 1 mo Lucing tho bar

College Accounting, Chapters 1-27
College Accounting, Chapters 1-27
23rd Edition
ISBN:9781337794756
Author:HEINTZ, James A.
Publisher:HEINTZ, James A.
Chapter7: Accounting For Cash
Section: Chapter Questions
Problem 1CE: Match the following words with their definitions by entering the correct number in the spaces below....
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Answer the following question: It is an event where money moves into or out of an account. a. Transaction b. Opening and closing balance c. Credit transaction d. Debit transaction This is a bank account used to deposit and withdraw money using the bank branch, using an ATM or Internet banking or by writing a cheque. a. Savings Account b. Time Deposit c. Credit Account d. Current / Checking Account It refers to the amount of money paid out an account. a. Opening and closing balance b. Account holder c. Credit transaction d. Debit transaction This is aimed at those who have a lump sum which they want to invest over a set period of time. The money is deposited into the account and left there until the agreed upon date. a. Credit Account b. Savings Account c. Debit Account d. Time Deposit It is the amount of money in the account at the beginning and at the end of the period. a. Credit transaction b. Opening and closing balance C.. Account holder d. Debit transaction
Transcribed Image Text:Answer the following question: It is an event where money moves into or out of an account. a. Transaction b. Opening and closing balance c. Credit transaction d. Debit transaction This is a bank account used to deposit and withdraw money using the bank branch, using an ATM or Internet banking or by writing a cheque. a. Savings Account b. Time Deposit c. Credit Account d. Current / Checking Account It refers to the amount of money paid out an account. a. Opening and closing balance b. Account holder c. Credit transaction d. Debit transaction This is aimed at those who have a lump sum which they want to invest over a set period of time. The money is deposited into the account and left there until the agreed upon date. a. Credit Account b. Savings Account c. Debit Account d. Time Deposit It is the amount of money in the account at the beginning and at the end of the period. a. Credit transaction b. Opening and closing balance C.. Account holder d. Debit transaction
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