Multiple Choice
Which of the following best completes the sentence: 'A bank can help you _____ your money and keep it _____' in the context of types of receivables?
14
views
7. Receivables and Investments
Types of Receivables
Struggling with Financial Accounting?
Join thousands of students who trust us to help them ace their exams!Watch the first videoMultiple Choice
Checking your credit report regularly can help you spot signs of which of the following?
A
Depreciation errors
B
Unrecorded sales revenue
C
Inventory shrinkage
D
Identity theft
Verified step by step guidance1
Understand the context of the question: The problem is about credit reports, which are financial documents that track an individual's credit history and activity.
Recognize that credit reports are not directly related to accounting concepts like depreciation errors, unrecorded sales revenue, or inventory shrinkage. These are terms more relevant to business accounting rather than personal finance.
Identify that credit reports are used to monitor financial activity and ensure accuracy in personal credit history. Regularly checking them can help detect unauthorized transactions or accounts, which are signs of identity theft.
Clarify the concept of identity theft: It occurs when someone uses another person's personal information, such as Social Security numbers or credit card details, to commit fraud or theft.
Conclude that the correct answer is identity theft, as it is the most relevant issue that can be spotted by regularly checking your credit report.
Related Videos
Related Practice
Types of Receivables practice set
Problem sets built by lead tutorsExpert video explanations