Bank Errors

question 90

Multiple Choice

Bank errors

• A)occur because of time lags.
• B)must be corrected by debit memorandums.
• C)are infrequent in occurrence.
• D)are corrected by making an adjustment on the depositor's books.

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Definitions:

Percentile

A statistical measure indicating the value below which a given percentage of observations in a group of observations falls.

Normal Curve

A bell-shaped curve that represents the distribution of many types of data in which most values cluster around a central mean.

Standard Deviation

A statistic that measures the dispersion or variation from the average in a set of data, indicating how spread out the numbers are.

Test-retest Reliability

The consistency of a psychological test or assessment over time when administered to the same group of people.