Which of the Following Would Be Subtracted from the Balance

question 7

Multiple Choice

Which of the following would be subtracted from the balance per books on a bank reconciliation?

• A) outstanding checks
• B) deposits in transit
• C) notes collected by the bank
• D) error in recording a check for $732 as $723

Learn the applicability of various laws and regulations, such as Article 4A and the Check Clearing for the 21st Century Act, to specific banking transactions.

Acknowledge the responsibilities of banks under different circumstances, including drawer’s incompetence and ATM failures.

Realize the processes and timelines for check collection and the impact on depositor’s accounts.

Grasp the benefits of electronic funds transfers (EFTs) for banks and their effect on traditional banking practices.

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Definitions:

Musculocutaneous

A nerve in the arm that innervates the biceps, brachialis, and coracobrachialis muscles.

Axillary

Pertaining to the armpit area.

Radial

Pertaining to a radius or radial direction, often referring to anatomy, such as radial arteries or radial nerves.

Carpal Tunnel

A narrow passageway in the wrist bounded by bones and a ligament, which can be compressed in carpal tunnel syndrome, affecting nerve function.