Briefly describe each type of bank account
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total answers (1)
Accounting
- A general cash account is the principal cash account for most entities. The major source of cash receipts for this account is the revenue process, and the major sources of cash disbursements are the purchasing and human resource management processes.
- Companies that have multiple locations are likely to have branch accounts. Such accounts provide the branch with the ability to pay local expenses and to maintain banking relations with the local community.
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