If the Bank Mistakenly Recorded a $92 Payment as $29

question 66

Multiple Choice

If the bank mistakenly recorded a $92 payment as $29, the error would be shown on the bank reconciliation as a:

• A)$63 addition to the bank balance.
• B)$92 deduction from the bank balance.
• C)$92 addition to the bank balance.
• D)$63 deduction from the bank balance.

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Definitions:

Fraction

A mathematical expression that represents the division of one quantity by another.

Value

The financial worth of an asset, service, or company based on revenue, assets, earnings, market cap, and other factors.

Division

A mathematical operation that involves dividing one quantity by another to determine how many times the first is contained in the second.

Multiplication

A fundamental arithmetic operation that combines two quantities to find their product.