For Which of the Following Errors Should the Appropriate Amount

question 68

Multiple Choice

For which of the following errors should the appropriate amount be subtracted from the balance per books on a bank reconciliation?

• A)Check written for $63, but recorded by the company as $36.
• B)Deposit of $600 recorded by the bank as $60.
• C)A returned $300 check recorded by the bank as $30.
• D)Check written for $57, but recorded by the company as $75.

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Definitions:

Shareholders of Record

Shareholders of record are individuals or entities that are officially recorded by a company as the legal owners of its shares on a specific date.

September

The ninth month of the year in the Gregorian calendar.

Positive Net Present Value

An indicator that an investment is expected to generate more cash than the initial amount invested, viewed positively in capital budgeting.

Regular Dividend

A fixed amount paid by a company to its shareholders out of its profits (or reserves) on a regular schedule.