A Bank Statement Provided by the Bank Includes

question 130

Multiple Choice

A bank statement provided by the bank includes:

• A) A list of outstanding checks.
• B) A list of petty cash amounts.
• C) A listing of deposits in transit.
• D) A reconciliation to the depositor cash account.
• E) The beginning and the ending balance of the depositor's account.

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Definitions:

General Ledger Account

An individual account within the general ledger that records transactions related to a specific asset, liability, equity, revenue, or expense.

Accounts Payable

Short-term financial obligations or debts a company owes to its suppliers or creditors for goods and services received.

General Journal

A primary accounting record used to record all types of transactions before they are posted to individual accounts in the general ledger.

Specialized Journals

Accounting books or ledgers used to record and track transactions of a specific type, such as sales or purchases, separately from the general ledger for greater efficiency and accuracy.