In Preparing a Monthly Bank Reconciliation,which of the Following Items

question 72

Multiple Choice

In preparing a monthly bank reconciliation,which of the following items would be added to the balance reported on the bank statement to arrive at the correct cash balance?

• A) Outstanding checks
• B) Bank service charge
• C) Deposits in transit
• D) A customer's note collected by the bank on behalf of the depositor

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Definitions:

Unfavorable Spending Variance

This occurs when the actual spending on something is higher than the budgeted or planned spending, indicating a cost management problem.

Vehicle Operating Cost

Expenses associated with running a vehicle, including fuel, maintenance, repairs, and insurance.

Snow-Day

A day on which work or school is cancelled due to heavy snowfall or extreme winter weather conditions.

Planning Budget

A budget designed for a specific level of activity, used as a tool for planning and controlling costs.