The question with the complete options:
Look at these two sentences about Undeposited Funds. 1. By posting to Undeposited Funds, you can create a single bank deposit for multiple payments, making it easy ___________. 2. When receiving a payment, make sure _________________. Which of the options below correctly fills in the blanks? A.)1. To match your bank register with your bank statement; 2. the Deposit to account is Undeposited Funds
B) 1. To match your bank register with your bank statement; 2. the Deposit to account is Checking
C)1. To match your expenses with your bank statement; 2. the Deposit to account is Uncategorized asset
D)1. To match your bank register with your bank statement; 2. the Deposit to account is Uncategorized funds.
Answer: The correct option is A (1. To match your bank register with your bank statement; 2. the Deposit to account is Undeposited Funds)
Explanation: Undeposited funds is a type of account created to keep funds that are not yet deposited in the individuals account. It's a default account which is used by online marketers to keep funds until they are ready to be paid.
By posting to Undeposited Funds, you can create a single bank deposit for multiple payments, making it easy to match your bank register with your bank statement. When receiving a payment, make sure the Deposit to account is Undeposited Funds.
.
