Chapter 8 Flashcards
1
Q
Copy of the customer’s account as shown in the books of the bank
A
Bank statement
2
Q
Facility to transfer money from one bank account to another electronically via the internet
A
Electronic direct payment
2
Q
Process that explains the difference between the bank balance as shown in the bank statement, supplied by the business’ bank on a particular date, and the corresponding amount shown in the business’ cash book
A
Bank reconciliation
3
Q
Person or company who writes a cheque
A
Drawer
4
Q
Person or company who is paid when a cheque is cleared
A
Payee
5
Q
Bank where the drawer has an account from which a cheque is to be paid
A
Drawee
6
Q
Cheques issued by the business but not presented by the payee to the bank
A
Unpresented cheques
