Deposits in Transit Would Not Appear on a Company's Bank

question 166

True/False

Deposits in transit would not appear on a company's bank reconciliation but would appear on the company's bank statement.

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Definitions:

Administrative Law Judge

An official who presides over administrative hearings, making decisions on disputes between government agencies and those affected by agency decisions.

Federal Trade Commission

A U.S. federal agency established to protect consumers and ensure a strong competitive market by enforcing antitrust and consumer protection laws.

Administrative Complaint

A formal grievance filed with a governmental agency, alleging wrongdoing or violation of rules by an entity or individual.

Equal Credit Opportunity Act

The Equal Credit Opportunity Act is a federal law in the United States that prohibits creditors from discriminating against applicants based on race, color, religion, national origin, sex, marital status, age, or because all or part of an applicant’s income derives from any public assistance program.