Timing differences discovered when reconciling the bank statement that the bank has not recorded yet,include:
A)Deposits in transit
B)Interest earned
C)Outstanding Checks
D)Both A and C

Question

Quizplus · Accepted Answer

Deposits in transit and outstanding checks are both timing differences that can be discovered during the bank reconciliation process. Deposits in transit are deposits that have been made but have not yet been recorded by the bank, while outstanding checks are checks that have been written but have not yet cleared the bank. Interest earned, on the other hand, is a separate transaction that is not related to timing differences in the bank statement.

Timing Differences Discovered When Reconciling the Bank Statement That the Bank