Which of the Following Would Be Deducted from the Ending

question 101

Multiple Choice

Which of the following would be deducted from the ending cash balance per bank when performing a bank reconciliation?

• A) Electronic fund transfers
• B) Service charges
• C) Deposits in transit
• D) Outstanding checks

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Definitions:

Accrued Expenses

Expenses that have been incurred but not yet paid or recorded by the end of the accounting period.

Adjusting Entry

An accounting entry made at the end of an accounting period to record earnings or expenses that have occurred but are not yet entered in the accounts.

Asset Account

An account that shows the value of the assets a company controls, which can include cash, equipment, and real estate.