Chapter 8 Flashcards

1
Q

Copy of the customer’s account as shown in the books of the bank

A

Bank statement

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2
Q

Facility to transfer money from one bank account to another electronically via the internet

A

Electronic direct payment

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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

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3
Q

Person or company who writes a cheque

A

Drawer

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4
Q

Person or company who is paid when a cheque is cleared

A

Payee

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5
Q

Bank where the drawer has an account from which a cheque is to be paid

A

Drawee

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6
Q

Cheques issued by the business but not presented by the payee to the bank

A

Unpresented cheques

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