If the Bank Mistakenly Recorded a $71 Deposit as $17

question 116

Multiple Choice

If the bank mistakenly recorded a $71 deposit as $17, the error would be shown on the bank reconciliation as a:

• A)$71 addition to the bank balance.
• B)$54 addition to the bank balance.
• C)$71 deduction from the bank balance.
• D)$54 deduction from the bank balance.

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Definitions:

Seasonal Factor

A variable or coefficient that adjusts data to account for predictable seasonal variations in statistics or business metrics.

Exponential Smoothing

A time series forecasting method for univariate data that averages the data in a way that gives less weight to older observations.

Seasonal Factor

A quantitative adjustment factor applied to economic or statistical data to account for seasonal variations of the data point.

Exponential Smoothing

A forecasting technique that applies decreasing weights to past observations as they recede in time.