Chapter 7 Homework-Exam3 1. A cash fund used to pay relatively small amounts 2.
ID: 2543131 • Letter: C
Question
Chapter 7 Homework-Exam3 1. A cash fund used to pay relatively small amounts 2. A check that is not paid by a bank because of insufficient funds in a bank account 3. A disbursement system that uses wire, telephone, or computer to transfer cash from one location to another. 4. A statement received monthly from the bank that shows the depositor's bank transactions and balances 5. Cash that is not available for general use but instead is restricted for a particular purpose 6. Checks issued and recorded by a company that have not been paid by the bank 7. Deposits recorded by the depositor that have not been recorded by the bank 8. Resources that consist of coins, currency, checks, money orders, and money on hand or on deposit in a bank or similar depository Short-term, highly liquid investments that can be readily converted to a specific amount of cash and which are relatively insensitive to interest rate changes 9. 10. The process of comparing the bank's account balance with the company's balance, and explaining the differences to make them agreeExplanation / Answer
1. Petty Cash Fund
2. NSF Check
3 Electronic Fund Transfer System
4 Bank Statement
5 Restricted Cash
6 Outstanding Checks
7 Deposit In Transit
8 Cash
9 Cash Equivalents
10 Bank Reconciliation