Which of the Following Is Deducted from the Bank Balance

question 6

Multiple Choice

Which of the following is deducted from the bank balance on a bank reconciliation?

• A)Deposits in transit
• B)Outstanding checks
• C)EFT received from customers
• D)Bank service charge

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Definitions:

Significant Investments

Major financial commitments made by a company or individual, often aiming to achieve long-term benefits or gains.

Short Term

Relating to or occurring on a brief or immediate timescale, typically within a year or less.

Globalization

The process by which businesses or other organizations develop international influence or start operating on an international scale.

Additional Risk

New or increased levels of exposure to potential loss or damage, which could impact an entity’s operations, finances, or reputation.