On any given day, it is unlikely that the balance in the cash account on the depositor's books will be the same as the bank balance.

Question

Quizplus · Accepted Answer

This is because of timing differences between when transactions are recorded on the depositor's books and when they are processed by the bank. Additionally, there may be outstanding checks or deposits that have not yet been fully processed. These timing differences can cause temporary discrepancies between the cash account balance on the depositor's books and the bank's balance.

On Any Given Day, It Is Unlikely That the Balance