When Preparing This Month's Bank Reconciliation,you Find That You Failed

question 144

Multiple Choice

When preparing this month's bank reconciliation,you find that you failed to record a $95 deposit for a payment you received from a customer.You immediately prepare a journal entry to record the deposit.Which of the following describes the actions to be taken when preparing next month's bank reconciliation?

• A) You must decrease the balance per bank by $95
• B) You must increase the balance per bank by $95
• C) You must increase the balance per books by $95
• D) No further action is necessary.

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Definitions:

Portfolio Expected Return

The weighted average of the expected returns of the assets in an investment portfolio.

Equal Investment

A strategy where equal amounts of capital are allocated to each investment within a portfolio.

Stocks

Shares of ownership in a company that represent a claim on part of the company's earnings and assets.

Payoff

The return or outcome received from an investment or decision, which can be positive (profit) or negative (loss).