Bank Interest Earned on a Chequing Account Would Be Shown

question 32

Multiple Choice

Bank interest earned on a chequing account would be shown on a bank reconciliation as

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

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Definitions:

Reflection

The process of introspectively considering one's thoughts, feelings, actions, and outcomes to gain insights or solve problems.

Mirror

A reflective surface, typically of glass coated with a metal amalgam, that reflects a clear image.

Concrete-operational

A stage in Piaget's theory of cognitive development during which children gain the ability to think logically about concrete events.

Abstractions

Simplified representations of complex concepts or real scenarios that highlight their essential characteristics while omitting the irrelevant details.