For Which of the Following Errors Should the Appropriate Amount

question 29

Multiple Choice

For which of the following errors should the appropriate amount be added to the balance per bank on a bank reconciliation?

• A)Check for $63 recorded by the company as $36.
• B)Deposit of $600 recorded by the bank as $60.
• C)A returned $300 check recorded by the bank as $30.
• D)Check for $75 recorded by the company as $57.

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Definitions:

Income Elasticity

A measure used in economics to show how the demand for a good or service changes in response to changes in consumer income.

Elapses

Refers to the passage of time or the process of something coming to an end or expiring.

Inelastic Demand

Describes a situation where the demand for a good or service changes little when its price changes.

Total Revenue

The total amount of money generated from the sale of goods or services.