When reading a bank statement,which reference indicates an increase in the cash balance?
A)Debit Memorandum
B)Credit Memorandum
C)NSF Check
D)Service Charge

Question

Quizplus · Accepted Answer

A credit memorandum indicates an increase in the cash balance, as it means that money has been deposited into the account. The other options (debit memorandum, NSF check, and service charge) all indicate a decrease in the cash balance.

When Reading a Bank Statement,which Reference Indicates an Increase in the Cash