When Reconciling a Bank Account with a Positive Balance, Interest

question 58

Multiple Choice

When reconciling a bank account with a positive balance, interest charged by the bank is:

• A) added to the bank statement balance in the reconciliation.
• B) deduced from the bank statement balance in the reconciliation.
• C) deducted from the general ledger bank balance.
• D) added to the general ledger bank balance.

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Definitions:

Implementation Phase

The implementation phase is the stage in a project or plan where strategies and designs are put into action, marking the transition from planning to actual execution.

Obtain Resources

The act of acquiring the necessary materials, finances, or human skills required for undertaking a specific task or project.

Gantt Chart

A Gantt chart is a visual project management tool that outlines the start and finish dates of the different required elements of a project, displaying the project schedule and progress.

Deadline

A specific time or date by which a task must be completed or a project must be finalized.