____________________ ____________________ ____________________ Is a Figure Acquired by Totaling the Amounts

question 49

Short Answer

____________________ ____________________ ____________________ is a figure acquired by totaling the amounts of money paid out of the register during the day.

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Definitions:

Outstanding Checks

Checks that have been written and recorded in the issuing entity's accounting system but not yet cashed or cleared by the bank.

Bank Statement

A document issued by a bank detailing all transactions in an account over a specified period, including deposits, withdrawals, and fees.

Bank Reconciliation

The process of comparing and matching figures from the accounting records against those presented on a bank statement to ensure they are consistent and accurate.

Company's Records

Documentation that contains the financial and operational information of a company.