On October 31,2015,the Bank Statement Shows That Your Company Has

question 152

Multiple Choice

On October 31,2015,the bank statement shows that your company has $12,956.73 in its checking account.You are aware of three outstanding checks for a total of $2,112.19.During October,2015,the bank rejected two deposited checks from customers totaling $654.19 because of insufficient funds and charged you $12.00 in service fees.You had not yet received notice about the bad checks,but you were aware of and have recorded the $12.00 of service fees.Prior to adjustment on October 31,2015,your Cash account would have a balance of:

• A) $14,402.73.
• B) $15,711.11.
• C) $11,498.73.
• D) $10,202.35.

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Definitions:

Concrete Operations

A stage in Piaget's theory of cognitive development, occurring between ages 7 and 11, where children gain a better understanding of mental operations and can think logically about concrete events.

Stimulus

Any external or internal event or factor that influences or triggers a reaction in a biological organism.

Cognitive Development

The process of growth and change in intellectual/mental abilities such as thinking, reasoning, and understanding over the course of a person's life.

Concrete Operations

A stage in cognitive development, according to Piaget, where children gain the ability to think logically about concrete events and understand the concept of conservation.