College Accounting, Chapters 1-27
23rd Edition
ISBN:9781337794756
Author:HEINTZ, James A.
Publisher:HEINTZ, James A.
Chapter17: Accounting For Notes And Interest
Section: Chapter Questions
Problem 12RQ: When a business borrows money from a bank on a non-interest-bearing note, how are the bank discount...
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Question
1. What do you think are conditions that must be met if the banker is to honor the customer's cheques?
2. Can you describe any circumstances where it might be in the interest of the bank to divulge information about the affairs of one of its customers?
3. What duties does a customer have to his or her bank?
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