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According to the textbook, what caused each sector of the economy to rise to dominance at a particular time?
Bank Service Charges
Fees charged by banks for the use of their services, such as account maintenance fees, transaction fees, and overdraft charges.
Outstanding Cheques
Checks that have been written and recorded by a company but have not yet been cleared or deducted from the bank account balance.
Bank Reconciliation
This is a process of matching and comparing an organization's financial records with the bank statements to ensure consistency and accuracy.
Deposits In Transit
Funds that have been recorded by a company but not yet by its bank, typically because the deposit was made after the bank's cutoff time.
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