While Reconciling the Checking Account, an Accountant with Elliter, Inc

question 91

Multiple Choice

While reconciling the checking account, an accountant with Elliter, Inc. noticed that an error had been made in recording a check received by the company. Elliter recorded the receipt as $729 and the correct amount of the check was $279. Which of the following reconciling adjustments is necessary?

• A) Add $450 to the company's records.
• B) Deduct $450 from the company's records.
• C) Add $450 to the bank statement balance.
• D) Deduct $450 from the bank statement balance.

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Definitions:

Developmental Experiences

Learning opportunities that contribute to an individual's physical, cognitive, emotional, and social growth.

Leadership Talent

The inherent abilities and potential in individuals that enable them to guide, influence, or direct others effectively.

Glass Ceiling

Circumstances resembling an invisible barrier that keep most women and minorities from attaining the top jobs in organizations.

Developmental Relationships

Interpersonal connections that contribute to individual growth and learning, often characterized by mentorship, coaching, and supportive feedback.