A Check Drawn by a Company for $340 in Payment

question 65

Multiple Choice

A check drawn by a company for $340 in payment of a liability was recorded in the journal as $430. This item would be included on the bank reconciliation as a (n)

• A) addition to the balance per the company's records
• B) addition to the balance per the bank statement
• C) deduction from the balance per the bank statement
• D) deduction from the balance per the company's records

---

Definitions:

Buy Classes

Categories of purchasing decisions characterized by the level of complexity and involvement required, differing between new buys, modified rebuys, and straight rebuys.

Organizational Buy Classes

Categories that differentiate the purchasing habits and procedures of organizations, often influenced by the nature and complexity of transactions.

Marketing Department

A division within a company responsible for developing strategies and tactics to promote its products or services and engage with its target audience.