If a Check Correctly Written and Paid by the Bank

question 83

Multiple Choice

If a check correctly written and paid by the bank for $427 is incorrectly recorded on the company's books for $472, the appropriate treatment on the bank reconciliation would be to

• A) add $45 to the bank's balance.
• B) add $45 to the book's balance.
• C) deduct $45 from the bank's balance.
• D) deduct $427 from the book's balance.

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Definitions:

Lorenz Curve

A widely used graph of the distribution of income, with cumulative percentage of households plotted along the horizontal axis and cumulative percentage of income plotted along the vertical axis.

Lorenz Curve

A graphical representation of the distribution of income or wealth within a society, showing the degree of inequality.

Shaded Area

In graphical analysis, the region enclosed by curves or boundaries, often used to represent quantities such as surplus, deficit, or probability.

Transfer Program

Government policies designed to redistribute income in the society through mechanisms such as social security, grants, and subsidies to support the economically disadvantaged.