Classify Each of the Following Reconciling Items of the Tic

question 182

Multiple Choice

Classify each of the following reconciling items of the Tic and Tac Company as:

-Outstanding cheques ________

• A)an addition to the bank balance
• B)a deduction from the bank balance
• C)an addition to the book balance
• D)a deduction from the book balance
• E)not a reconciling item

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Definitions:

Sherman Antitrust Act

A foundational statute in United States antitrust law passed in 1890 that outlaws monopolistic business practices and promotes competition in the marketplace.

Supreme Court

The highest judicial court in a country or state, often having the final say in legal disputes and interpretations of the law.

Rule of Reason

A legal doctrine used in antitrust law stating that not all business practices considered to restrict trade are automatically illegal, but must be evaluated on their actual impact on competition.

Microsoft

A multinational technology company known for its software products, including the Windows operating system and Office suite, as well as hardware and cloud services.