PRC-1 · Chapter 9 · Question 6 of 100
Cheques received and deposited into the bank but not yet cleared or credited by the bank on the statement date are known as:
Test yourself: pick an answer
Reveal answer & explanation
Correct answer: B) Uncredited lodgments / Uncleared cheques
Explanation
Uncredited cheques (or outstanding lodgments) are deposits recorded in the cash book but not yet processed and credited to the account by the bank due to clearing time.
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