Operating _________ Are the Costs Involved in Operating a Business

question 68

Short Answer

Operating _________ are the costs involved in operating a business such as rent,salaries,supplies,utilities,insurance and the like.

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Definitions:

Bank Memos

Notices from a bank that make adjustments to a company's bank account balance, often for fees, interest payments, or corrections.

Bank Reconciliation

The analysis that details the items responsible for the difference between the cash balance reported on the bank statement and the balance of the cash account in the ledger.

Company's Accounts

Records that contain the financial transactions, assets, liabilities, and equity of a company.

Deposits in Transit

Cash and checks that have been received and recorded by a business but not yet reflected in the bank's records.