Examlex
Which of the following terms is incorrectly defined?
Bank Reconciliation
The process of matching and comparing figures from accounting records against those presented on a bank statement to ensure consistency and correctness.
Cancelled Checks
Checks that have been processed by the bank, serving as proof of payment or transaction.
Prenumbered Documents
Documents that are sequentially numbered in advance, used to ensure completeness and to prevent fraud or duplication.
Approving Payment
The process of confirming that an invoice or bill can be paid, often involving verification that the amount is correct and the goods or services were received.
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