Deposits made by a company but not yet reflected in a bank statement are called
A) Debit memoranda
B) Deposits in transit
C) Credit memoranda
D) None of the above

Question

Quizplus · Accepted Answer

Deposits made by a company but not yet reflected in a bank statement are called deposits in transit. They are deposits that have been made, but the bank has not yet processed them and updated the account balance.

Deposits Made by a Company but Not Yet Reflected in a Bank