The bank must recognize the trust accounts as such and the word trust or escrow must be in the name of the account.

A business management system is a graphic description of a process, showing the sequence of process tasks, which is developed for a specific purpose and from a selected viewpoint.

a. true b. false

Which of the following accounts would appear in the income statement debit column?

A) Unearned Revenue B) Service Revenue C) Depreciation Expense D) Prepaid Insurance