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Practice Questions
Test your understanding with targeted questions related to the topic.
Question 1
Easy
What is a direct deposit?
💡 Hint: Think of it as a payment made without any physical checks.
Question 2
Easy
Why is it important to recognize direct deposits?
💡 Hint: Consider how these deposits affect how much money a company believes it has available.
Practice 4 more questions and get performance evaluation
Interactive Quizzes
Engage in quick quizzes to reinforce what you've learned and check your comprehension.
Question 1
What is a direct deposit?
- A bank loan
- Money deposited directly into a bank account
- A check sent by mail
💡 Hint: Think this involves funds being sent directly without the need for a physical cheque.
Question 2
True or False: Direct deposits always appear immediately in the company's cash book.
- True
- False
💡 Hint: Consider the timing of deposit recording versus bank processing.
Solve 1 more question and get performance evaluation
Challenge Problems
Push your limits with challenges.
Question 1
Your company receives a total of 5 direct deposits in one week. You only recorded 3. The bank shows the correct amount. How would you reconcile this and what steps would you take?
💡 Hint: Think about checking against your bank statement to find what's missing.
Question 2
Consider a scenario where a customer directly deposits $1,000, but you record $900 instead. What implications does it have on your financial reports? Provide a solution.
💡 Hint: Reflect on how this might affect your ability to make purchases based on cash availability.
Challenge and get performance evaluation