Examlex
What is a preference and how does the law treat such transactions?
Bank Statement
A document or report provided by a bank, summarizing the transactions in a customer's account over a specific period.
Liability
An obligation of a company or individual, representing debts or financial responsibilities owed to others.
Remittance Advice
A document sent by a customer to a seller, indicating that an invoice has been paid, typically accompanying a payment.
Bank Reconciliation
The process of comparing and matching figures from the accounting records against those presented on a bank statement to ensure they are in agreement.
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