Arkansas Real Estate Practice Exam

Disable ads (and more) with a membership for a one time $2.99 payment

Ace your Arkansas Real Estate Exam with ease! Dive into comprehensive practice tests, detailed explanations, and helpful flashcards. Prepare and succeed with Examzify today!

Each practice test/flash card set has 50 randomly selected questions from a bank of over 500. You'll get a new set of questions each time!

Practice this question and more.

What information must ledgers contain regarding each deposit of funds?

Amount, purpose, check number, deposit date, balance
Check number, deposit date, payer's name, ledger number
Deposit date, balance, payer's name, account number
Amount, ledger number, account number, payer's name

The correct answer is: Amount, purpose, check number, deposit date, balance

Ledgers contain records of financial transactions and should include important information such as the amount of funds deposited, the purpose behind the deposit, the check number, the date of the deposit, and the resulting balance. These details provide a comprehensive and accurate account of all deposits made into a specific account. The other options do not include all of the necessary information for proper record-keeping. Option B is missing the amount of funds deposited and option C is missing the check number. Option D is missing both the purpose behind the deposit and the check number. Therefore, option A is the best answer as it includes all necessary information for a complete and accurate ledger entry.