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NASSORo MOHAMED
on Nov 14, 2024

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Each of the following items affect the cash balance per books except

A) bank service charges.
B) notes collected by the bank.
C) NSF checks.
D) outstanding checks.

NSF Checks

Checks that are not honored by the bank due to insufficient funds in the account of the drawer.

Bank Service Charges

Fees charged by banks for account maintenance, transactions, and other financial services.

Outstanding Checks

Checks that have been written and recorded in the checking account ledger but have not yet been cashed or cleared by the bank.

  • Familiarize oneself with the process and vital role of bank statement alignment.
  • Comprehend the role of internal controls in managing cash and cash equivalents.
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GISELLE MORENO-ALONSONov 19, 2024
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