DEPOSITS IN TRANSIT Definition

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DEPOSITS IN TRANSIT is deposits made to a bank account that have not been credited to the bank statement.

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FEDERAL NATIONAL MORTGAGE ASSOCIATION (FNMA) is a private corporation chartered by the U.S. Government to provide mortgage money for home buyers. FNMA buys mortgages from lenders and sells mortgages to investors. FNMA guarantees the timely payment of both interest and principal. Also known as "Fannie Mae".

ACMA is an acronym for Associate Chartered Management Accountant.

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