Which of the Following Transactions Will Appear in the Bank

question 139

Multiple Choice

Which of the following transactions will appear in the bank statement but generally not have been recorded by the depositor?

• A)Outstanding checks.
• B)Service charges.
• C)Deposits in transit.
• D)Both outstanding checks and deposits in transit.

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Definitions:

Gross Profit

The financial metric that represents the difference between sales revenue and the cost of goods sold, before deducting overheads, payroll, taxation, and interest payments.

Profit Center

A branch or division of a company that is treated as a separate entity for the purpose of calculating its profitability.

Profit Center

A division or segment of a company that is directly responsible for generating its own revenue and profit through its activities.

Cost Center

A department or segment of a business that does not directly generate revenue but incurs costs, focusing instead on controlling expenses.