A brokerage account for the deposit of client funds OA must require the signatures of two officers. B. must be labeled as a special or trust account. C. may contain all brokerage funds if properly designated. D. should maintain a balance of at least $100 at all times.
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- Which of the following is an electronic funds transfer system (EFTS) service? Group of answer choices a. Overdraft protection b. Automatic transfer program c. Preauthorized payments d. Stop payment e. Cashier's checksWhich of the following serve as the basis for recording appropriate expenses each time the fund is replenished ? a . Request letter from cash custodian b . Checks issued to cash custodian • c . Receipts d . None of the given optionsA prenumbered document that tells the bank to pay the designated party a specific amount is a A. check B. deposit ticket C. routing number D. remittance advice
- From a bank's viewpoint, a customer's account in the bank is considered a: a.donation. b.liability. c.contra asset. d.surplus. e.revenue.Deposits other than customer payments are entered using: a. Receive Payments b. Pay Bills c. Bank Deposit d. All of the aboveCustomer loans are classified on a Depository Institution (DI)'s balance sheet as Select one: A. liabilities, because the customer may default on the loan. B. assets, because the DI earns servicing fees on the loan. C. assets, because the DI's major asset is its client base. D. assets, because DIs originate and monitor loan portfolios. E. liabilities, because the DI must transfer funds to the borrower at the initiation of the loan.
- Complete the follow table to ensure the difference between the three instruments.(According to the hint) Items Draft Promissory note Check Character Unconditional promise Main party 3(Drawer, Drawee, Payee) Principal debtor Drawer Creditor Holder(Payee or Endorsee) Liability of the drawer Guarantee acceptance and payment Identity of the payer Must be a bank Due time At sight and at time Number of bills OneA check was issued by L. The name of the payee written on the face of the check is “Cardo Dalisay from Ang Probinsyano”. What kind of instrument is this? A. Order instrument B. Bearer instrument C. Order and bearer instrument D. Trust BillHow will the following items affect the pass book balance? Direct payment by customer into the back account. Interest on investment collected by the bank.
- The term deposits in transit refer to: a. Deposits that were made after the bank statement was mailed b. Deposits that have left the organization and are on their way to the bank c. The individual who is transporting the deposits to the bank d. Funds that have been wired but not yet receivedWhat are the step(s) when using the Sales with Payment customer workflow? A. Create sales receipts deposited to the Undeposited Funds account > Create Bank Deposit B. Create Sales Receipt deposited to the checking account C. Create Bank Deposit D. Create Invoice > Receive Payment deposited to the Undeposited Funds account > Create Bank DepositInstructions: Read and understand the transaction. Prepare a Bank Reconciliation Statement using the following methods: a. Adjusted Method | b. Book-to-bank Method c. Bank-to-book Method Use the space provided for each method for you answer.