The ˙Gif, ˙Tiff, and ˙Jpg File Extensions Are Generally Used

question 37

Multiple Choice

The ˙gif, ˙tiff, and ˙jpg file extensions are generally used for which of the following?

• A) Text data file
• B) Audio file
• C) Image file
• D) Word processing document
• E) Program source file

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Definitions:

Checks Cleared

The process by which banks settle transactions, transferring money from the check writer's account to the beneficiary's account once the check is presented for payment.

Bank Reconciliation

The practice of aligning and scrutinizing numbers from financial records with the ones on a bank statement to guarantee they match.

Outstanding Checks

Checks that have been issued and recorded in the account holder's ledger but have not yet been cashed or cleared by the bank.

Deposits In Transit

Funds that have been deposited by a company but have not yet been recorded by the bank, often resulting in discrepancies in bank reconciliation.