Clarence Received His Bank Statement Showing a Balance of $671

question 26

Multiple Choice

Clarence received his bank statement showing a balance of $671.35. The outstanding checks totaled $172.68, and there was an outstanding deposit of $115. His checkbook balance is $621.92. What type of correction does Clarence need to make to his running balance?

• A) -$8.25
• B) -$9.25
• C) +$8.25
• D) +$9.25

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Definitions:

Management By Objectives (MBO)

A management strategy where employees and managers define and agree on specific objectives, with performance evaluated against these objectives.

Measurable Objectives

Specific, quantifiable goals set by an organization or individual that allow for tracking progress and assessing achievement.

Manager

A person responsible for controlling or administering all or part of a company or similar organization, overseeing and directing the work of others.

Management By Objectives (MBO)

A management strategy in which employees set objectives that contribute to organizational goals, promoting alignment and engagement.