CASH IN BANK Definition

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CASH IN BANK literally means coin, currency, and cash items on deposit.

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CONTINGENCY is an existing condition involving uncertainty as to possible gain (gain contingency) or loss (loss contingency) that will be resolved by future events. Estimates, such as the useful life of an asset, are not contingencies. Eventual expiration of the asset's utility is not uncertain.

CHAPS is Clearing house automated payment system. A computerized payment system for clearing checks in the UK.

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