When Completing a Bank Reconciliation

question 30

Multiple Choice

When completing a bank reconciliation:

• A) enter the check register balance on the current date.
• B) add bank fees to the check register amount.
• C) subtract outstanding deposits from the bank statement balance.
• D) Both B and C

---

Definitions:

Opportunity Cost

Missing potential benefits that could have been gained from unchosen options when deciding on one.

Production Possibilities

A graphical representation that shows the maximum combination of goods or services that can be produced with a fixed amount of resources.

Production Possibilities Frontier

A curve depicting all maximum output possibilities for two goods, given a set of inputs representing resource allocation.

Production Possibilities Frontier

A curve depicting all maximum output possibilities for two goods, given a set of inputs, representing the trade-offs of allocating resources between the production of those goods.