Examlex
Identify the three key financial statements that corporations are required to prepare, and describe the type of information found on each.
Outstanding Checks
Checks that have been written and recorded in the payer’s ledger but have not yet been cashed or cleared by the bank.
General Ledger
A comprehensive accounting record of all transactions affecting a company, consolidated into debit and credit accounts.
Bank Statement
A monthly or quarterly document provided by a bank detailing all transactions in an account, including deposits, withdrawals, fees, and interest earned.
Imprest Petty Cash
A fixed amount of cash used for small, incidental expenses, replenished periodically.
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