A Check for $456 Was Erroneously Charged by the Bank

question 92

True/False

A check for $456 was erroneously charged by the bank as $654.In order for the bank reconciliation to balance, you must subtract $198 from the bank statement balance.

---

Definitions:

Behaviorism

A psychological approach that emphasizes the study of observable behaviors and the external stimuli that lead to them, discounting the importance of internal mental states.

Opportunity Costs

The loss of potential gain from other alternatives when one alternative is chosen.

Scarcity

A fundamental economic problem of having seemingly unlimited human wants in a world of limited resources.

Social Institutions

Established systems and structures within society that dictate certain patterns of behavior, such as family, religion, education, and government.