BUISENESS MANAGEMENT
RECORD KEEPING
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Which of the following is NOT considered a withdrawal?
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Purchases
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Transfers sent
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Checks cashed
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ATM withdrawals
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Explanation:
Detailed explanation-1: -(c) Demand Draft can not be used to withdraw cash from a bank account. A demand draft is an instrument that is issued by the bank to the drawer. And when the demand draft gets matured the drawer can claim the money from the bank it does not require the signature of the drawing.
Detailed explanation-2: -Cash typically includes coins, currency, funds on deposit with a bank, checks, and money orders. Items like postdated checks, certificates of deposit, IOUs, stamps, and travel advances are not classified as cash.
Detailed explanation-3: -∴ Estimating and costing activities are not included in Cash flow.
There is 1 question to complete.