A Check Issued for $890 to Pay a Vendor on Account

question 60

Multiple Choice

A check issued for $890 to pay a vendor on account was recorded in the firm's records as $980;the canceled check was properly listed on the bank statement at $890.To arrive at an accurate balance on a bank reconciliation statement,the error should be

• A) added to the bank statement balance.
• B) added to the book balance.
• C) deducted from the bank statement balance.
• D) deducted from the book balance.

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Definitions:

Personality

The combination of characteristics or qualities that form an individual's distinctive character, influencing their behaviors, thoughts, and feelings.

Cultural Context

The social, religious, economic, and political conditions that influence the understanding and interpretation of ideas and concepts.

Studying Personality

The field of psychology that examines individual differences in characteristics, traits, and behaviors.

Psychosocial Development

A theory proposing stages through which individuals progress throughout their lives, involving challenges in the domains of personal and social development.