Indicate Whether Each of the Following Statements Is True or False

Short Answer

Indicate whether each of the following statements is true or false.
_____ a)Debit memos in a bank statement describe transactions that increase the depositor's assets.
_____ b)Credit memos in a bank statement describe transactions that act to increase the bank's liabilities.
_____ c)Service fees charged by a bank appear on bank statements as credit memos.
_____ d)Deposits in transit appear on the bank statement as credit memos.
_____ e)Outstanding checks do not appear on the bank statement.