Even Though Norfolk Southern Doesn't Have as Much Information to Deal

question 30

True/False

Even though Norfolk Southern doesn't have as much information to deal with as other companies, they've found a data warehouse has been most useful in their business.

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Definitions:

Bank Reconciliation

The process of matching and comparing figures from the accounting records against those presented on a bank statement.

Debit Memorandum

A document issued by a buyer to a seller indicating the debiting of the seller's account due to goods returned or a decrease in services provided.

Credit Memorandum

A document issued by a seller to a buyer, reducing the amount the buyer owes to the seller under the terms of an earlier invoice.

Deposit In Transit

Funds that have been sent to a bank but have not yet been recorded in the bank's records or the depositor's account balance.