Examlex
Which of the following statements is true of the equity theory?
Reconciling
The process of ensuring that two sets of records (usually the balances of two accounts) are in agreement.
Bank Statement
A record of an account sent to the account holder, usually on a monthly basis, showing the beginning balance, all deposits made, all checks drawn, all bank service charges and interest earned, and the closing balance.
Check Register
A record, often part of a checkbook, that allows individuals to track checks written, deposits made, and current balances.
ATM
An Automated Teller Machine, a banking terminal that allows customers to perform financial transactions, such as cash withdrawals and deposits, without the need for a human cashier.
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