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Canada (158,052)
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ACC 100 (209)
Chapter 7

ACC 100 Chapter 7 Notes.docx

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Ryerson University
ACC 100
Walter Krystia

ACC100 Chapter 7 Notes Cash and Cash ManagementCash Equivalent an investment that is readily convertible to a known amount of cash and has an original maturity to the investor of three months or lessCash Management necessary to ensure that any point in time a company has neither too little nor too much cash on handThe Bank Reconciliation o Bank Statement a detailed list provided by the bank of all the activity for a particular account during the monthOutstanding Cheque a cheque written by a company but not yet presented to the bank for paymentDeposit in Transit a deposit recorded on the books but not yet reflected on the bank statementNFS Cheque not sufficient fundsService Charge banks charge for various services they provideInterest Earned some chequing accounts pay interest on the average daily balance in the account o Bank Reconciliation a form used by the accountant to reconcile or resolve any
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