Choose the Word or Phrase in [ ] Which Will

question 9

Short Answer

Choose the word or phrase in [ ] which will correctly complete the statement. Select A for the first item, B for the second item, and C if neither item will correctly complete the statement.
-Errors discovered during the reconciliation process are most likely to have been made by the [depositor | bank].

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Definitions:

Bank Statement Adjustment

Corrections made to a bank account balance to reflect transactions, fees, or errors not previously recorded in the company's books.

Company Books Adjustment

Modifications made to the accounting records to correct errors or update the accounts as required.

NSF Check

A check that cannot be processed due to insufficient funds in the account on which it was drawn, often resulting in a fee.

Bank Statement Adjustment

The process of modifying the balance shown on a bank statement to reflect transactions or corrections not yet recorded by the bank.