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Querist : Anonymous

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Querist : Anonymous (Querist)
24 June 2011 what is cheque in transit??
and is it an asset??
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CMA Ramesh Krishnan

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CMA Ramesh Krishnan (Expert)
26 June 2011 cheque in transit is the cheque sent form Head office to Branch or Branch to HO. on the close of the books of accounts if it is sent by one side or not received by other side the it will be treated as cheque in transit

it need to be considered as Current Asset
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