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Accountancy question from FAA exam, 2024 by JKSSB

What is "Deposit in transit" in bank reconciliation?

Last updated May 13, 2026
Correct Answer: Option A — Added to Bank Balance
In a bank reconciliation statement (BRS), a "Deposit in Transit" (also known as an unpresented deposit or outstanding deposit) refers to cash or checks that a company has recorded in its own books but which have not yet appeared on the bank statement.
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JKSSB FAA 2024

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Exam JKSSB
Recruitment FAA
Year 2024
Subject Accountancy
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