Flush Away, Inc

question 144

Multiple Choice

Flush Away, Inc. is particularly concerned about pending legislation in Congress that would further regulate their organization. This legislation would be classified as

• A) an external opportunity.
• B) an internal strength.
• C) an external threat.
• D) an external weakness.
• E) a congressional chaos.

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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.