Which One of the Following General Statements About Account Reconciliation

question 12

Multiple Choice

Which one of the following general statements about account reconciliation is incorrect -

• A)unresolved amounts will be posted to the reconciliation adjustments account
• B)income,expenses and adjustments are classifications of linked accounts
• C)a backup copy of the data files should be made after you reconcile the account
• D)a blank account reconciliation journal form is the last step in the process

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Definitions:

Demand Curve

A graph showing the relationship between the price of a good and the amount of it that consumers are willing to purchase at various prices.

Hoverboards

Self-balancing scooters that use gyroscopic technology to allow users to move based on the direction and speed of their body lean.

Factors Of Production

The resources used in the creation of goods and services, including land, labor, capital, and entrepreneurship.

Inputs

The resources (such as labor, raw materials, and capital) used in the production process to create goods or services.