If a Check Correctly Written and Paid by the Bank

question 88

Multiple Choice

If a check correctly written and paid by the bank for $427 is incorrectly recorded on the company's books for $472, the appropriate treatment on the bank reconciliation would be to

• A)add $45 to the bank's balance.
• B)add $45 to the book's balance.
• C)deduct $45 from the bank's balance.
• D)deduct $427 from the book's balance.

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Definitions:

Standard Error

A measure of the dispersion of sample mean estimates from the population mean.

True Proportion

The actual proportion of a particular outcome within the entire population.

Confidence Interval

An estimated range of values calculated from a given set of sample data, intended to offer a degree of certainty that a population parameter lies within it.

Simple Random Sample

A smaller group taken from a larger statistical group where each individual has the same chance of selection.