Examlex
Which of the following is a reconciling item on the bank side of a bank reconciliation?
Equilibrium Price
The market price at which the quantity of a good or service supplied is equal to the quantity demanded, leading to market balance.
Market Price
The amount of money that a product is bought or sold for in the marketplace; determined by supply and demand.
Surplus
A situation where the quantity supplied of a good exceeds the quantity demanded, often leading to lower prices or stored inventory.
Shortage
Occurs when the quantity demanded of a good exceeds its supply at a given price, leading to an unmet demand in the market.
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