Which Person or Group Is Not an Employee of the Corporation

question 5

Multiple Choice

Which person or group is not an employee of the corporation?

• A)A member of the audit committee
• B)The treasurer
• C)The VP of manufacturing
• D)The CFO

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Definitions:

Outstanding Checks

Checks that have been issued and recorded in a company's financial records but have not yet been cashed or cleared by the bank.

NSF

An acronym for "Non-Sufficient Funds," indicating that a check cannot be processed due to insufficient money in the account.

Bank Reconciliation

The process of comparing and adjusting a company's financial records to match the transactions recorded by the bank, ensuring accuracy in the accounts.

Bank Reconciliation

The process of matching and comparing figures from accounting records against those presented on a bank statement.