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

question 5

Multiple Choice

In preparing a bank reconciliation statement for a business with a substantial bank balance, the appropriate treatment for a deposit for $2 300 not appearing on the bank statement 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.

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Definitions:

Privatization

The process of transferring ownership of a business, enterprise, agency, or public service from the government to private individuals or organizations.

Federal Workers

Employees of the federal government who work in various departments and agencies, contributing to the administration and implementation of government policies.

Infrastructure Repairs

The process of fixing and restoring essential public facilities and systems, such as roads, bridges, and water supply systems.

Bureaucracy

A system of government in which most of the important decisions are made by state officials rather than by elected representatives, often characterized by specialized functions, hierarchy, and rules.