Deposits in Transit

question 18

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 cheques from customers which have not yet been received by the company.

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Definitions:

Accumulate Wealth

The process of gradually increasing assets, money, and investments over time through saving, investing, and earning.