Practice - Time Differences
Enroll to start learning
You’ve not yet enrolled in this course. Please enroll for free to listen to audio lessons, classroom podcasts and take practice test.
Practice Questions
Test your understanding with targeted questions
What are outstanding checks?
💡 Hint: Think about checks you've written that haven't been processed yet.
Define deposits in transit.
💡 Hint: Consider when you deposit money but it isn't reflected in your bank account.
4 more questions available
Interactive Quizzes
Quick quizzes to reinforce your learning
What are outstanding checks?
💡 Hint: Think of the checks that are still waiting to be cashed.
Deposits in transit refer to:
💡 Hint: Consider what happens when you deposit money late.
2 more questions available
Challenge Problems
Push your limits with advanced challenges
A company has issued checks amounting to ₹10,000 that are still outstanding. They also have deposits in transit totaling ₹4,000. Calculate the impact on their cash balance.
💡 Hint: Consider the difference between reported cash and actual cash available.
Analyze a situation where a business is frequently facing discrepancies due to overdue outstanding checks. What actions should they take to manage this?
💡 Hint: Think about how good practices can influence better cash management.
Get performance evaluation
Reference links
Supplementary resources to enhance your learning experience.