A Check Correctly Written and Paid by the Bank for $481

question 7

Multiple Choice

A check correctly written and paid by the bank for $481 is incorrectly recorded on the company's books for $418. The appropriate adjustment on a bank reconciliation would be to:

• A) deduct $418 from the book's balance.
• B) deduct $63 from the book's balance.
• C) deduct $63 from the bank's balance.
• D) add $63 to the bank's balance.

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Definitions:

Weber's Fear

Refers to Max Weber's concern regarding the increasing rationalization and bureaucracy in society, leading to disenchantment and a loss of individual freedoms.

Inherent Right

A fundamental right believed to be possessed by all individuals inherently, often referring to basic human rights.

Self-Government

The ability of a community, group, or nation to govern itself without external control, often through democratic processes.

Aboriginal People

Indigenous people native to a land or country, especially those with a long history and cultural heritage predating colonialism.