On a bank reconciliation,deposits added to the bank side are called:
A)deposits in transit.
B)late deposits.
C)deposits on hold.
D)outstanding deposits.

Question

Quizplus · Accepted Answer

Deposits added to the bank side that have not yet been recorded by the bank are called deposits in transit. This means that the deposit has been made but has not been processed or credited to the account by the bank, and therefore needs to be added to the bank balance on the reconciliation.

On a Bank Reconciliation,deposits Added to the Bank Side Are