Scotch Services Received a Credit Memorandum from the Bank

question 67

Multiple Choice

Scotch Services received a credit memorandum from the bank. During the bank reconciliation they should:

• A) increase their cash account on the company's books.
• B) decrease their cash account on the company's books.
• C) increase the ending cash balance on the bank statement.
• D) decrease the ending cash balance on the bank statement.

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Definitions:

Compliment

A polite expression of praise or admiration towards someone.

Emotional Intelligence

The ability to identify, assess, and control the emotions of oneself, of others, and of groups.

Information Triage

Process of evaluating information to sort good information from less useful or less valid information.

Critical Listening

Listening to evaluate and assess the quality, appropriateness, value, or importance of information.