While Reconciling the Checking Account, the Accountant Noticed That an Error

question 190

Multiple Choice

While reconciling the checking account, the accountant noticed that an error had been made in recording a check received by the company. The bookkeeper had recorded the receipt as $729 but the correct amount of the check was $279. Which of the following reconciling adjustments is necessary?

• A)Add $450 to the company's records.
• B)Deduct $450 from the company's records.
• C)Add $450 to the bank statement balance.
• D)Deduct $450 from the bank statement balance.

Recognize the evolving nature of employment law regarding executive compensation, privacy, and harassment.

Understand the concept of marginal rate of substitution and its application in determining optimal consumption choices.

Grasp the relationship between an indifference curve's position relative to the origin and the implied level of utility.

Recognize the principles of consumer equilibrium and how to maximize utility subject to a budget constraint.

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Definitions:

Narrow Ocean

Refers specifically to the relatively thinner and smaller expanses of ocean, often found between landmasses.

Narrow Sea

A relatively small and elongated body of seawater that lies between two landmasses, often acting as a natural border.

Volcanic Islands

Islands formed by volcanic processes above the sea level, often at hot spots or oceanic plate boundaries.

Oceanic Plateau

A large, high-standing, submarine plateau formed by volcanic activity and consisting mainly of basalt.