Which of the Following Items Are Both Reconciling Items on the Bank

question 51

Multiple Choice

Which of the following items are both reconciling items on the bank side of the reconciliation?

• A)outstanding cheques and correction of book error
• B)deposit in transit and NSF cheque
• C)deposit in transit and outstanding cheques
• D)bank service charge and correction of book error

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Definitions:

Implied Warranty

An unwritten and unexpressed guarantee that a product or service complies with the standard quality and performance expected.

Habitability

The suitability of a building for living in, ensuring that it is safe, healthy, and fit for habitation.

Statute of Frauds

A legal principle that requires certain types of contracts to be executed in writing and signed by the party to be charged, to be enforceable.

Lease Term

The duration of a lease agreement, specifying the start and end dates of the tenancy.