The Bank Statement Included Bank Charges

question 53

Multiple Choice

The bank statement included bank charges. On the bank reconciliation, this item is:

• A) an addition to the balance per company books.
• B) an addition to the balance per bank statement.
• C) a deduction from the balance per bank statement.
• D) a deduction from the balance per company books.

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Definitions:

Distribution Of Rights

The allocation of legal entitlements and responsibilities among individuals, organizations, or governments.

Efficient Outcome

An economic situation in which every resource is optimally allocated to serve each individual or entity in the best way while minimizing waste and inefficiency.

Government Intervention

Actions taken by a government to affect the economy, which can include regulation, subsidies, tariffs, and other mechanisms.

Externalities

Economic side effects or consequences of an industrial or commercial activity that affect other parties without being reflected in the costs of the goods or services involved.