Question

4.which forms can be used to record services purchased? expense form and invoice form check form, bill form, and vendor credit form expense form, check form, and bill form none of the choices are correct.

Answer 1

The correct forms for recording services purchased are an expense form, check form, and bill form. A check serves as a directive to the bank to pay a specific amount, and a store gets money by depositing the check. An overdraft happens when spending exceeds the account balance.

Step-by-step explanation:

The forms that can be used to record services purchased are the expense form, check form, and bill form. When you use a check as payment for goods and services, it serves as a written order to your bank to pay the specified amount from your bank account funds to the person or entity named on the check. The store or service provider receives the funds when they deposit the check into their bank account, and the banking system handles the transfer of funds.

An overdraft occurs when a person spends more money than is available in their bank account, typically when a check is written for an amount greater than the account balance, leading to the account being overdrawn.