Deposits in Transit

question 31

Multiple Choice

Deposits in transit

• A) have been recorded on the company's books but not yet by the bank.
• B) have been recorded by the bank but not yet by the company.
• C) have not been recorded by the bank or the company.
• D) are checks from customers which have not yet been received by the company.

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Definitions:

Rock Slide

A type of landslide characterized by the rapid sliding of a mass of rock down a slope.

Slope Failure

A sudden movement of soil, rock, or debris down a slope due to gravity, often triggered by factors like water saturation or earthquakes.

Permafrost

Permanently frozen ground that occurs in high latitude or high elevation regions on Earth.

Weathering

The process by which rocks are broken down or chemically altered by external conditions on the Earth’s surface, including factors like wind, rain, and temperature changes.