Bank Errors

question 97

Multiple Choice

Bank errors

• A)occur because of time lags.
• B)must be corrected by debits.
• C)are infrequent in occurrence.
• D)are corrected by making an adjusting entry on the depositor's books.

Understand the implication of government policies on market prices and demand

Identify the relationship between goods (complements, substitutes, normal, and inferior goods)

Understand seasonal variations in demand and their effects

Understand the basic principles and physiological processes underlying visual perception, including brightness contrast and color vision.

---

Definitions:

Federal Trade Commission Act

A federal law established in 1914 that created the Federal Trade Commission (FTC) and provided it with the power to prevent unfair competition methods and unfair or deceptive acts affecting commerce.

Food and Drug Administration

A federal agency of the United States responsible for protecting and promoting public health through the control and supervision of food safety, tobacco products, dietary supplements, prescription and over-the-counter medications, vaccines, biopharmaceuticals, blood transfusions, medical devices, electromagnetic radiation emitting devices, and veterinary products.

Water Quality

A measure of the condition of water, based on chemical, physical, and biological characteristics, to support its intended use.

FDA Approved

A designation that indicates a product has been tested and approved by the U.S. Food and Drug Administration as safe and effective for its intended use.