Which describes the purpose of non-sufficient funds fees? A: penalize customers for writing checks for money they don't haveB:make sure customers keep sufficient funds in their account

C: pay for the costs of having bank employees

D: collect funds for withdrawals from a competitor’s machine

Answers

Answer 1

Answer:

Answer:

A: penalize customers for writing checks for money they do not have

Explanation:

A bank reconciliation mainly computed by an accountant, gives the difference between the balance in relation to the bank statement and the cash balance with respect to the accounting records of the depositor in a particular financial institution.

In Financial accounting, a bank statement can be defined as an official summary or list of financial transactions, which typically comprises of the amount of money that has been paid into or withdrawn from an account by an individual or business entity over a specific period of time.

Generally, a bank statement usually has the following information charges, deposits, withdrawals, including the opening and closing balance for each account held at a given the period. Thus, bank customers are advised to frequently reconcile their records with bank statements in order to prevent non-sufficient funds (NSF) checks.

A non-sufficient funds (NSF) checks refers to a check that is not honored by the bank of the issuer due to the fact that the individual or business entity has an insufficient fund. It is also known as a bounced or bad check.

Hence, the purpose of non-sufficient funds fees is to customers for writing checks for money they do not have. In the United States of America, the fee charged for non-sufficient funds (NSF) checks is between $27 to $35.

Related Questions

You won a free ticket to see an Eric Clapton concert (which has no resale value). Bob Dylan is performing on the same night and is your most attractive alternative. Tickets to see Dylan cost $50. On any given day, you would be willing to pay up to $70 to be at a Bob Dylan concert. Assume there are no other costs of seeing either performer. What is the opportunity cost of seeing Eric Clapton?
"How does filing bankruptcy limit your quality of life?
Which of the following groups on the Text Box Tools Format tab contains the command to create a drop cap?TextTypographyFontAlignment
You could borrow money from friends and family who would like to invest in your business, or you could offer them ________. equity stock debt a job
Rupert and Cordelia own an American company that does business in foreign nations. Getting a license in a new country can be challenging. As they try to enter into business in a new country, Rupert fills out the license paperwork and takes it to the correct office. There he pays the front-desk person $100 to process the paperwork, as is the custom in that country. Cordelia, who has connections in that country, schedules an appointment with the minister of commerce, who has the authority to determine which foreign companies get licenses, and pays him $200 to approve their license. Which payment(s) likely violated the Foreign Corrupt Practices Act?a. The payments made by both Rupert and Cordelia.b. The payment made by Rupert but not the payment made by Cordelia.c. The payment made by Cordelia but not the payment made by Rupert.d. Neither payment violated the FCPA.

All of the following are economic institutions EXCEPTa. churches.
b. government services.
c. credit unions.
d. commercial banks.

Answers

churches .it's a religious institution

When economists measure opportunity cost to help determine the true value of economic decisions

Answers

Opportunity Cost

An opportunity cost is defined as the value of a forgone activity or alternative when another item or activity is chosen. Opportunity cost comes into play in any decision that involves a tradeoff between two or more options. It is expressed as the relative cost of one alternative in terms of the next-best alternative. Opportunity cost is an important economic concept that finds application in a wide range of business decisions.

Final answer:

Opportunity cost refers to the potential benefit one misses out when choosing one alternative over another. It is used in economics to determine the true value of economic decisions by quantifying what is given up to get what is wanted. The opportunity cost would be any other potential investments that could have been made, representing the missed opportunity.

Explanation:

Opportunity cost is a core concept in economics and it refers to the potential benefit an individual or a business misses out on when choosing one alternative over another. In essence, it's the loss of potential gain from other alternatives when one alternative is chosen. It helps to determine the true value of economic decisions by quantifying what we give up to get what we want.

For example, imagine you have $10,000 and you decide to invest it in stocks. The opportunity cost would be any other potential investments you could have made with that money, such as buying bonds, purchasing real estate, or even keeping the money in a savings account. The value of the best forgone alternative - in this case, the potential returns from bonds, real estate, or savings - represents the opportunity cost of your decision to invest in stocks.

Learn more about Opportunity Cost here:

brainly.com/question/32971162

#SPJ6

A standing bill is one that has been passed as a law.
a. True
b. False

Answers

The given statement is true.

What do you call a bill that has been passed?

Once an invoice has been enacted into law, it's miles known as an act of the legislature or a statute. Payments are delivered to the legislature and are mentioned, debated, and voted upon.

A invoice is the draft of a legislative notion, which, whilst passed with the aid of both houses of Parliament and assented to by using the President, turns into an act of Parliament. As soon as the bill has been framed, it has to be posted within the newspapers and the generalpublic is requested to comment in a democratic way.

Learn more about the standing bill here: brainly.com/question/1290170

#SPJ2

it is true that a standing bill been passed

Which document begins with the words "We the people of the United States"?

Answers

The Constitution of the Unites Stated had this starting words :"We the people of the United States" and it was written in 1789.

The constitution of the USA written in, September 17, 1787

Cassie has three criteria for her career. She would like to make at least $60,000 a year at the height of her career. She would like to have a career that advocates for social justice. She would also like to have flexible hours so that she can raise her family. Would entrepreneurship be a good fit for Cassie?answers:
a:Yes; all of her criteria are aligned with entrepreneurship.
b:Maybe; if she is willing to work in an area other than social justice.
c:Maybe; if she is willing to risk not making $60,000 from her business venture.
d:No; entrepreneurs do not have flexible hours.

Answers

Human capital increase throughout a career because related jobs develop skills for a specific field of work. Humans can develop skills and gain knowledge through the field of work and improve these skills, if they have the passion to develop it.

so c

What does fair trade mean?

Answers

its trade between companies in developed countries and producers in developing countries where fair prices are paid to the producers so it contributes to sustainable development by offering better trading conditions and securing the rights of producers

Other Questions

Brenda Lee has received a $10,000 gift from her mother and is trying to decide how to invest it. She thinks she would like to invest it in stocks because she knows that stocks have been earning about a 10% rate of interest over the last several years. What aspect of investing is Brenda most concerned about? a) Diversification b) Return c) Liquidity d) Risk

Medium that carries message signals from senders to receivers of communication is:

In which market structure does platinum mining belong? Motivate your answer

When there is a net increase in the physical quantity of inventory during a period, the use of ________ results in an additional layer of inventory.a. FIFOb. LIFOc. average cost