Jerome Has Scored a 10 on a Test

question 14

Multiple Choice

Jerome has scored a 10 on a test. How has he done?

• A) On some tests, this might be indicative of a very good score.
• B) On some tests, this might be indicative of a very poor score.
• C) On some tests, this might be indicative of a moderate score.
• D) We should ask Jerome how he thinks he has done. His thoughts about his score are part of what determines how he has done.
• E) All of these.

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Definitions:

Cash Account

An account where all transactions are made in cash, including receipts and payments.

Bank Reconciliation

Bank reconciliation is the process of matching the balances in an entity's accounting records for a cash account to the corresponding information on a bank statement, to ensure accuracy.

Internal Control

Strategies and methods adopted by a business to maintain the accuracy of its financial and accounting records, encourage responsibility, and deter dishonest practices.

Detection of Errors

The process of identifying and correcting mistakes in financial records or transactions.