When Preparing a Bank Reconciliation, Which of the Following Items

question 37

Multiple Choice

When preparing a bank reconciliation, which of the following items would be added to the book balance?

• A) EFT cash receipts
• B) EFT payments
• C) NSF cheques
• D) deposits in transit

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Definitions:

Property Tax

Property tax is a levy on property that the owner is required to pay, typically levied by local governments based on the property's assessed value.

Federal Government Tax Revenue

The income collected by the federal government from taxes, which funds national expenditures such as defense, social services, and infrastructure.

Personal Income Taxes

Taxes levied on the income of individuals or families by the government.

Social Insurance Taxes

Taxes collected to fund public insurance programs, such as retirement pensions, unemployment benefits, and health insurance schemes.