A Check That Was Outstanding on Last Period's Bank Reconciliation

question 72

Multiple Choice

A check that was outstanding on last period's bank reconciliation was not among the cancelled checks returned by the bank this period.In preparing the bank reconciliation for this period,the amount of this check should be:

• A)added to the bank balance of cash.
• B)ignored in preparing this period's bank reconciliation.
• C)deducted from the bank balance of cash.
• D)deducted from the company's balance of cash.

Explain the significance of entry and exit of firms in a perfectly competitive market and its effect on long-run equilibrium.

Identify the conditions for long-run equilibrium in a perfectly competitive market.

Describe the characteristics of a perfectly competitive industry that lead to efficiency.

Calculate industry supply based on individual firm supply in a perfectly competitive setting.

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Definitions:

Naturalist Intelligence

One of Howard Gardner's multiple intelligences, highlighting an individual's ability to interact with, understand, and classify the natural environment and living beings.

Transactional Analysis

A psychotherapeutic approach that examines interactions, or transactions, between individuals to understand and improve communication.

Scripts

Predefined, stereotypical sequences of actions and behaviors that people use in particular social contexts.

Gifted Writers

Individuals possessing exceptional talent in writing, enabling them to create works of high quality, originality, and creativity.