When Reconciling a Bank Account, an Unrecorded Bank Service Charge

question 33

Multiple Choice

When reconciling a bank account, an unrecorded bank service charge is:

• A) added to the bank statement balance
• B) subtracted from the bank statement balance
• C) added to the checkbook balance
• D) subtracted from the checkbook balance

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Definitions:

Income

A measure of the flow of funds from various sources, such as wages, investments, or business activities, that an individual or entity receives over a period of time.

Consumption

The act of using goods and services to satisfy needs and wants.

Utility Function

A mathematical representation of how a consumer's satisfaction or happiness is affected by consuming different quantities of goods and services.

Golf

A sport involving hitting a small ball into a series of holes with the least number of strokes possible, using various clubs.