Clearing is the process whereby
A) the bank account balance agrees with the company's accounting records.
B) the signature on the cheque is compared to the signature card.
C) a cheque or deposit is accepted by the makers bank.
D) a deposit agrees with the daily cash receipts.

Question

Quizplus · Accepted Answer

Clearing refers to the process where a cheque or deposit is accepted and processed by the maker's bank, ensuring the funds are transferred from one account to another.

Clearing Is the Process Whereby