The IF Function Provides Two Outcomes,one When Its Logical Test

question 42

True/False

The IF function provides two outcomes,one when its logical test is true and one when its logical test is false.

---

Definitions:

Bank Reconciliation

The method of aligning the figures in a company's financial records for a cash account with the related data on a bank statement.

NSF Check

A check that cannot be processed because the account it is drawn on does not have enough funds.

Bank Statement Adjustment

Amendments made to the balance as shown by the bank statement to reflect accurate entries for transactions not yet recorded.

Deposit In Transit

Funds that have been deposited by a company but not yet recorded by the bank.