Bank Errors

question 175

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.

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Definitions:

Low Productivity

A situation where there is an inefficient use of resources, resulting in less output per unit of input, often affecting economic growth and competitiveness.

Adequate Infrastructure

Essential facilities and systems serving a country, city, or area, including transportation and communication systems, power plants, and schools, that are sufficient to support economic activities and improve quality of life.

Public Sector

The sector of an economy that is controlled or operated by the government, including services such as education, policing, and healthcare.

Trade Barriers

Regulations or policies implemented by a country to restrict or control international trade and protect domestic industries.