Question $10$

Consider these two statements regarding Undeposited Funds:

Utilizing Undeposited Funds allows for consolidating multiple payments into a single bank deposit, simplifying the process of $$

When recording customer payments to be deposited into the bank in one lump sum, it is essential to ensure that $$

Which option correctly completes the blanks?

Reconciling your bank register with your bank statement; the designated Deposit to account is Chequing

Reconciling your expenses with your bank statement; the designated Deposit to account is Uncategorized asset

Reconciling your bank register with your bank statement; the designated Deposit to account is Uncategorized funds

Reconciling your bank register with your bank statement; the designated Deposit to account is Undeposited funds