A category of assets for banks is cash items in the process of collection.This is:

Question

Quizplus · Accepted Answer

Cash items in the process of collection refer to uncollected funds that the bank is due to receive from the clearing of checks. This is a category of assets for banks as they represent the amount of money that the bank expects to receive from its customers, which it can use to fund its operations or lend to other customers. Options B, C, and D are incorrect as they do not relate to the category of assets known as cash items in the process of collection.

A Category of Assets for Banks Is Cash Items in the Process