Which of the Following Items on a Bank Reconciliation Would

question 68

Multiple Choice

Which of the following items on a bank reconciliation would require a journal entry?

• A) An error by the bank
• B) Outstanding checks
• C) A bank service charge
• D) A deposit in transit

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Definitions:

Buildings

Physical structures owned or used by a business for its operations, considered as a fixed asset on the balance sheet.

Machinery and Equipment

Long-term assets used in the operation of a business, typically for manufacturing, processing, or office operations.

Land

A natural resource that refers to the earth's surface not covered by water, which can be used for agriculture, construction, or as an investment.

Insurance

A financial product that provides protection against losses or damages, typically in the form of a policy for which the insured pays a premium.