In the Accompanying Figure, Arrow Number 1 Indicates Which Element

question 17

Multiple Choice

In the accompanying figure, arrow number 1 indicates which element of the chart?

• A) data marker
• B) x-axis
• C) data item name
• D) y-axis

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Definitions:

Bank Reconciliation

A process that explains the difference between the bank balance shown in a company's bank statement and its financial records.

NSF Check

A check that cannot be processed due to insufficient funds in the account it is drawn on, commonly known as a bounced check.

Outstanding Checks

Checks that have been written and recorded in financial accounts but have not yet been cashed or cleared by the bank.

Bank Reconciliation

A process that explains the difference between the bank balance shown in an organization's bank statement, as supplied by the bank, and the corresponding amount shown in the organization's own accounting records at a particular point in time.