Final answer:
The statement in the question is false. Deposits-in-transit should not appear as deposits on the cutoff bank statement.
Step-by-step explanation:
The statement given in the question is false. In a year-end bank reconciliation, deposits-in-transit are deposits that have been made by the company but do not appear on the bank statement yet. These deposits are added to the bank statement balance to arrive at the adjusted cash balance on the reconciliation. Therefore, deposits-in-transit should not appear as deposits on the cutoff bank statement, as they have not been recorded by the bank yet.