Assuming the Account Is Not in Overdraft, When Reconciling the Ledger

question 52

Multiple Choice

Assuming the account is not in overdraft, when reconciling the ledger with the bank statement a deposit in transit should be:

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

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Definitions:

Lanugo

A soft, fine body hair that is sometimes present on newborns and people with eating disorders as a protective response to severe malnutrition.

Anorexia Nervosa

An eating disorder characterized by an obsessive fear of gaining weight, leading to severe restriction of food intake and distorted body image.

Overestimate

To assess something as being greater, larger, or more significant than it actually is.

Anorexia Nervosa

A condition where individuals severely underweight excessively fear weight gain and have a skewed view of their body mass.