Using the Code Letters Below, Indicate How Each of the Items

question 129

Essay

Using the code letters below, indicate how each of the items listed would be handled in preparing a bank reconciliation. Enter the appropriate code letter in the space to the left of each item.

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Definitions:

Minor

A person under the age of legal adulthood, which varies by jurisdiction but is commonly 18.

Express Ratification

The explicit approval or confirmation of a previously unauthorized act.

Age of Majority

The legally defined age at which an individual is recognized as an adult and is fully accountable for his or her actions.

Intends

Plans or aims to carry out a specific action in the future.