Examlex
Define solvency and profitability. How are they alike?
Cash Account
A financial account where cash transactions are recorded, showing the cash inflows and outflows for a person or business.
Bank Reconciliation
The method of aligning the balance in a company's financial records for a cash account with the relevant details on a bank statement.
Deposits in Transit
Funds that have been received and recorded by a business but not yet processed or acknowledged by the bank.
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