Examlex
A firm in ________ will engage in ________ to try to earn an economic profit.
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.
Balance Per Bank
The amount of money a company's records show in its bank account, often reconciled with the bank's records for accuracy.
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