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SOFE Accredited Financial Examiner AFE Question # 25 Topic 3 Discussion

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SOFE Accredited Financial Examiner AFE Question # 25 Topic 3 Discussion

AFE Exam Topic 3 Question 25 Discussion:
Question #: 25
Topic #: 3

Cash does include funds in transit, unless the deposit was prepared and sent to the bank. If the deposit was sent to the bank, it is considered cash and entered into the company’s books and is no longer in transit. Funds in transit not yet sent to the bank are entered:
A.

On a write-in line on the Assets page

B.

As a prepaid asset on the Assets page

C.

As a long term asset on the Assets page

D.

As a non-admitted asset on Asset page

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Actual exam question for SOFE AFE exam by Zephyr20564 at Aug 3, 2025, 12:00:00 AM

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