Examlex
Which of these statements is NOT accurate?
Deposit In Transit
Funds that have been deposited by a company but not yet recorded by the bank.
Bank Reconciliation
Aligning an organization's cash account records in its accounting books with the relevant details found in a bank statement.
Bank Statement Adjustment
The process of reconciling differences between the balance shown on a bank statement and the amount shown in a company's financial records.
Interest Revenue
Income that is earned from investments, loans, or any other interest-bearing assets.
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