A disbursement journal identifies unclaimed funds.

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Prepare for the Clerk Certification Level II Test. Utilize multiple-choice questions, flashcards, and detailed explanations. Set yourself up for exam success!

Multiple Choice

A disbursement journal identifies unclaimed funds.

Explanation:
Disbursement journals record cash outflows — payments made to vendors, employees, and other creditors. They show that money has left the company, not whether funds are still unclaimed by the recipient. Unclaimed funds are handled through separate unclaimed property or escheatment records, not through the disbursement journal. So the statement is not correct: a disbursement journal does not identify unclaimed funds.

Disbursement journals record cash outflows — payments made to vendors, employees, and other creditors. They show that money has left the company, not whether funds are still unclaimed by the recipient. Unclaimed funds are handled through separate unclaimed property or escheatment records, not through the disbursement journal. So the statement is not correct: a disbursement journal does not identify unclaimed funds.

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