If a Cheque Correctly Written and Paid by the Bank

question 6

Multiple Choice

If a cheque correctly written and paid by the bank for $483 is incorrectly recorded on the company's books for $384, the appropriate treatment on the bank reconciliation would be to

• A)add $99 to the balance per bank.
• B)add $99 to the balance per books.
• C)deduct $99 from the balance per books.
• D)deduct $99 from the balance per bank.

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Definitions:

State-Operated Lottery

A form of gambling run by state governments, where participants buy tickets for the chance to win cash or other prizes.

Recourse

The ability to seek compensation or redress, often through legal means, from a source when subjected to damage or loss.

Procedural Unconscionability

A legal term referring to a situation where the terms of a contract are so unfair or the process is so unequal that it shocks the conscience.

Substantive Unconscionability

Refers to a condition in contract law where the terms of a contract are extremely unfair or one-sided in favor of the party who has the superior bargaining power.