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Which statement about iron is incorrect?
Bank Statement
A document issued by a bank to its customer listing transactions, including deposits, withdrawals, and fees over a specific period, usually monthly.
Outstanding Checks
Checks that have been written and recorded in a company's books but have not yet been cleared or cashed by the bank.
Deposit In Transit
Refers to money that has been received and recorded by a business but has not yet been recorded by the bank.
Notes Receivable
Claims against others for money, goods, or services evidenced by promissory notes that are to be paid within a certain period of time.
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