The Difference That Arises Between the Balance on the Bank

question 113

True/False

The difference that arises between the balance on the bank statement and the balance on the company's books because of a time lag in recording transactions is known as a timing difference.

---

Definitions:

Clerical Tasks

Routine office administrative duties such as filing, typing, and scheduling appointments.

Receptionist's Supervisor

An individual responsible for overseeing the work of receptionists, ensuring that front desk operations are efficient, and guests are satisfactorily assisted.

Performance Management System

A strategic and integrated approach to increasing the effectiveness of organizations by improving the performance of the people who work in them and by developing the capabilities of teams and individual contributors.

Corrective Action

Steps taken to identify, eliminate, and prevent the recurrence of errors or problems in processes, products, or systems.