Which of the Below Is an Example of a Critical

question 43

Multiple Choice

Which of the below is an example of a critical success factor?

• A)Increase customer satisfaction
• B)Number of new customers
• C)Number of new products
• D)Percentage of employee turnover

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Definitions:

Bank Reconciliation

The process of comparing and adjusting the balance shown in a company's bank statement with the amount shown in the company's own records.

Outstanding Checks

Checks that have been written and recorded in the payer's accounting system but have not yet been cashed or cleared by the bank.

Balance Per Bank

The balance as per bank refers to the amount of money shown in the bank's records as available in an account.

NSF Check

A cheque that has been returned by the bank because the account on which it was drawn did not have sufficient funds, stands for Non-Sufficient Funds.