Arkansas Real Estate Practice Exam

Which details are required for the disbursement of funds in owner ledgers?

1. Date, amount, check number, payee, purpose, balance

2. Amount, date, payer's name, payee, balance

3. Check number, bank name, amount, date, payee's name

4. Date, check number, bank name, amount, balance

The correct answer is: Date, amount, check number, payee, purpose, balance

The other options are incorrect because they include either bank name or purpose which are not necessary for the disbursement of funds in owner ledgers. Also, options B and D have payer's name or balance listed in the incorrect order. Option C includes bank name and payee's name in place of check number and purpose, which are required details for disbursement of funds. Option A is the best answer as it includes all the required details in the correct order for disbursing funds in owner ledgers.