Who Should Prepare the Bank Reconciliation

question 40

Multiple Choice

Who should prepare the bank reconciliation?

• A) someone independent of handling or recording cash receipts
• B) someone independent of handling cash receipts and cash payments
• C) the finance manager
• D) someone independent of the finance manager

Understand the subtle differences in connotation between words that appear similar.

Identify and describe different kinds of jargon and their appropriateness in business communication.

Define and distinguish between active voice and passive voice in writing.

Apply unconventional sentence starters like "and" or "but" effectively in writing.

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Definitions:

Valuation Basis

The method or approach used to determine the value of an asset or a company.

Investment Account

An account established to hold investments such as stocks, bonds, mutual funds, and other assets for long-term growth or income generation.

Adjusted Subsidiary Value

The valuation of a subsidiary company after making necessary adjustments to its assets and liabilities to reflect fair value or to eliminate intercompany transactions.

Preferred Stock

A category of corporate ownership that ranks above common stock regarding asset and earning claims, typically paying out dividends at a fixed rate.