This Month's Bank Statement Includes a Check from a Customer

question 83

Multiple Choice

This month's bank statement includes a check from a customer that was marked NSF.How would this item be treated on the bank reconciliation? Is it added to or deducted from the bank balance or the company's cash (book) balance?

• A) It would be deducted from the book balance.
• B) It would be added to the bank balance.
• C) It would be deducted from the bank balance.
• D) It would be added to the book balance.

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Definitions:

Recency Errors

A cognitive bias that leads individuals to give greater importance to the most recent information or experiences.

Worker Involvement

The meaningful participation and empowerment of employees in the decision-making processes within their workplace.

Transformational Leadership

A leadership style that inspires and motivates followers through positive changes, vision, and consideration of their needs and interests.

Employee Engagement

The emotional commitment an employee has to their organization and its goals, influencing their willingness to put in effort towards work achievements.