Clearing Is the Process Whereby

question 57

Multiple Choice

Clearing is the process whereby

• A) the bank account balance agrees with the company's accounting records.
• B) the signature on the cheque is compared to the signature card.
• C) a cheque or deposit is accepted by the makers bank.
• D) a deposit agrees with the daily cash receipts.

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Definitions:

Internally

Pertaining to or situated within the interior or inside of something, often referring to operations or processes within an organization.

Whistle-Blowers

Individuals who expose wrongdoing, illegal activities, or unethical practices within an organization to the public or authorities.

Company Retaliation

Actions taken by an employer to punish or negatively impact an employee as a response to the employee's complaint or whistleblowing.

Illegal

Describes actions or activities that are forbidden by law and subject to criminal or civil penalties.