Which of the Following Is NOT an Objective of a Bank

question 3

Multiple Choice

Which of the following is NOT an objective of a bank reconciliation?

• A)Detection of errors.
• B)Update the checking account for unrecorded increases and decreases in cash.
• C)It is a great internal control that involves comparing actual assets at the bank with accounting records.
• D)The reconciliation ensures that the owner's personal expenses are not included in the business expenses.

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Definitions:

Income

The total money received by an individual or household from various sources, including wages, salaries, benefits, and investments.

Convex Preferences

In consumer theory, these are preferences where blends or combinations of two goods are preferred to extreme allocations, reflecting a desire for balance.

Indifference Curve

A graph representing different bundles of goods between which a consumer is indifferent, showing the combination of two goods that give the same level of satisfaction to the consumer.

Mosquito Bites

These are the itchy and often red swellings caused on the skin due to the reaction to the saliva of mosquitoes when they bite to feed on blood.