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

question 147

Multiple Choice

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

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

Grasp the effect of sample size changes on standard error and sampling distribution properties.

Apply knowledge of normal distributions in practical sampling scenarios.

Evaluate conditions under which approximations to normality in sampling distributions apply.

Relate the principle of the finite population correction to the concept of a large population relative to sample size.

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Definitions:

Bad Debt Expense

A charge to the income statement for accounts receivable that a company has determined it will not collect.

Adjusting Entry

An entry made in the books of accounts at the end of an accounting period to allocate income and expenditure to the period in which they actually occurred.

Credit Sales

Transactions involving the transfer of goods or services to a customer with the agreement that payment will be made at a later date.

Uncollectible Accounts

Debts owed to a company that are considered unlikely to be paid by the debtor, often resulting in a write-off for the creditor.