Bank Errors

question 43

Multiple Choice

Bank errors

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

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Definitions:

Intellectual Ability

The capacity to think abstractly, reason, understand complex ideas, learn quickly, and solve problems, often assessed through IQ tests.

IQ Score

A numerical measure of a person's intelligence as compared to the average intelligence of their age group, often derived from standardized tests.

Reliability

The extent to which a measuring instrument yields consistent and reliable outcomes across different periods.

Coleman

Refers to James S. Coleman, an American sociologist known for his work in educational sociology, including the influential "Coleman Report" on educational inequality.