If a Company Erroneously Records a $500 Deposit as $50

question 89

Multiple Choice

If a company erroneously records a $500 deposit as $50 in its records, which of the following must occur when reconciling its bank statement?

• A)The company must increase the balance per its records by $500.
• B)The company must increase the balance per its records by $450.
• C)The company must decrease the balance per its records by $500.
• D)The company must decrease the balance per its records by $450.

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Definitions:

Ship's Log Book

An official record maintained by the ship's captain or other personnel, detailing the journey, experiences, and events of the ship.

Parallel Structure

The repetition of a chosen grammatical form within a sentence, enhancing readability and coherence by keeping similar elements in a series consistent.

Sentence Variety

The use of different lengths, beginnings, and structures in sentences to enhance writing style and readability.

Concise Language

The use of fewer words to express an idea, ensuring clarity and brevity in communication without sacrificing meaning.