5. If the cash balance shown on a company’s accounting records is less than the correct cash balance and neither the company nor the bank has made any errors, there must be a. Deposits credited by the bank but not yet recorded by the company b. Outstanding checks c. Deposits in transit d. Bank charges not yet recorded by the company

5. If the cash balance shown on a company’s accounting records is less than the correct cash balance and neither the company nor the bank has made any errors, there must be a. Deposits credited by the bank but not yet recorded by the company b. Outstanding checks c. Deposits in transit d. Bank charges not yet recorded by the company

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

5. If the cash balance shown on a company’s accounting records is less than the correct cash balance and neither the company nor the bank has made any errors, there must be

a. Deposits credited by the bank but not yet recorded by the company

b. Outstanding checks

c. Deposits in transit

d. Bank charges not yet recorded by the company

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