A cash item in the process of collection is

Question

Quizplus · Accepted Answer

A cash item in the process of collection refers to a check that has been deposited in a bank account but has not yet been cleared and the funds made available for use. Option A refers to a matured Treasury bill, which is not a cash item in the process of collection. Option B refers to a payment that is due and not yet received, but it is not related to the collection process. Option D refers to currency that has been deposited but not yet counted, which is also not related to the collection process.

A Cash Item in the Process of Collection Is