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While reconciling the checking account, the accountant noticed that an error had been made in recording a check received by the company. The bookkeeper had recorded the receipt as $729 but the correct amount of the check was $279. Which of the following reconciling adjustments is necessary?
Undue Risk
Excessive or unnecessary danger or threat, often considered in contexts where the level of risk is not justified by the potential benefits or outcomes.
Avoidable Losses
Losses that could have been prevented through reasonable care or alternative actions.
Waiver
The voluntary relinquishment or surrender of a known right or privilege.
Relinquishment
Relinquishment involves voluntarily giving up or surrendering a right, position, or claim, often in a legal or formal context.
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