Table 201 Shows a Current Account ?
A)?$1,500
B)?$2,000
C)?$2,400
D)?$2,420
E)?$2,500

question 138

Multiple Choice

Table 20.1 shows a current account.In the table below,_____ is the balance on current account.
Table 20.1
($)
?
$\begin{array}{lr}\text { Net exports of goods } & -2,000 \\\text { Net exports of services } & 500 \\\text { Net unilateral transfers } & -1,000 \\\text { Net investment } & 100 \\\text { Statistical discrepancy } & -20\end{array}$
?

• A)?$1,500
• B)?$2,000
• C)?$2,400
• D)?$2,420
• E)?$2,500

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Definitions:

Bank Reconciliation

The process of comparing a company’s financial records and balance with its bank statement to ensure consistency and accuracy in the recorded transactions.

Journal Entry

A record in the accounting journal that represents a single business transaction through the debit and credit of financial accounts.

Bank Service Charge

Fees charged by a bank to a customer for account maintenance and other banking services.

Deposits In Transit

Funds that have been sent to a bank but not yet recorded in the bank's records, typically due to timing differences.