For Which of the Following Errors Would the Appropriate Amount

question 126

Multiple Choice

For which of the following errors would the appropriate amount be subtracted from the balance per books on a bank reconciliation?

• A)Check written for $63, but 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 written for $57, but recorded by the company as $75.

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Definitions:

Profit

The financial gain made in a transaction or business operation, calculated as the difference between revenue and costs.

Positive Profits

When a company's total revenue exceeds its total costs, resulting in a financial gain.

Demand

The quantity of a good or service that consumers are willing and able to purchase at various prices during a specified time period.

Profit-Maximizing

A strategy or point at which a business makes the highest profit possible, given its production costs and market demand.