For Which of the Following Errors Should the Appropriate Amount

question 229

Multiple Choice

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

• A) Check written for $63, but recorded as $36.
• B) Deposit of $600 recorded by bank as $60.
• C) A returned $300 check recorded by bank as $30.
• D) Check written for $57, but recorded as $75.

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Definitions:

Exclusive Right

A legal provision granting someone the sole authority to sell, produce, or use a particular product or service.

Product Name

The title given to a merchandise or service to distinguish it from other offerings.

Trademark

A distinguishable symbol, pattern, or phrase that differentiates the goods or services of a specific origin from those of other sources.

Oligopolists

Firms or individuals that dominate a particular market, leading to a market structure known as oligopoly, where a few entities control the majority of market share.