In Preparing a Bank Reconciliation Statement for a Business with a Substantial

question 24

Multiple Choice

In preparing a bank reconciliation statement for a business with a substantial bank balance,the appropriate treatment for cheques unpresented at end of month,$4900,is to:

• A) add it to the balance as per bank statement.
• B) deduct it from the balance as per bank statement.
• C) add it to the balance per company records.
• D) deduct it from the balance per company records.

---

Definitions:

Feedback Controls

Take place after an action is completed.

End Results

The final outcomes or objectives that are aimed for in a business or project management context.

Future Planning

The process of setting goals and developing strategies for achieving them in the future, often involving forecasting and scenario analysis.

Feedforward Controls

Ensure that directions and resources are right before the work begins.