When Preparing a Bank Reconciliation, Several Terms Are Used, Which

question 60

Essay

When preparing a bank reconciliation, several terms are used, which are listed below. Following the list is a series of definitions.
a. bank collections
b. bank reconciliation
c. bank statement
d. check
e. deposits in transit
f. electronic fund transfer
g. nonsufficient funds check
h. outstanding checks
_____ 1. Document showing the beginning and ending balances of a particular bank account listing the month's transactions that affected the account.
_____ 2. A check issued by the company and recorded on its books but not yet paid by the bank.
_____ 3. System that transfers cash by electronic communication rather than by paper documents.
_____ 4. Document instructing a bank to pay the designated person or business the specified amount of money.
_____ 5. Collection of money by the bank on behalf of a depositor.
_____ 6. A deposit recorded by the company but not yet by its bank.
_____ 7. A document explaining the reasons for the difference between a depositor's records and the bank's records about the depositor's cash.
_____ 8. A check for which the payer's bank account has insufficient money to pay the check.
REQUIRED: Match each term with its appropriate definition.

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Definitions:

Demotions

The act of lowering an employee's rank or position, often as a result of organizational changes or performance issues.

Human Capital Stock

Refers to the collective skills, knowledge, and experience possessed by an organization's workforce, considered an asset in terms of production capacity.

HR Surplus

A situation where the number of employees exceeds the labor requirements of the organization.

Human Capital

The skills, knowledge, and experiences possessed by an individual or population, viewed in terms of their value or cost to an organization or country.