The Bank Collected a Note Receivable of $1,000

question 142

Multiple Choice

The bank collected a note receivable of $1,000.How would this information be included on the bank reconciliation?

• A) An addition on the bank side
• B) A deduction on the book side
• C) An addition on the book side
• D) A deduction on the bank side

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Definitions:

Performance Outcomes

The results or achievements arising from the actions or performance of an individual or group in various contexts, such as work, sports, or education.

Institutional Investors

Large organizations such as banks, insurance companies, and pension funds that invest large amounts of money.

Closely Held Corporations

Corporations that have a limited number of shareholders, often family members or close associates, and whose shares are not publicly traded.

Publicly Held Corporations

Companies that have issued securities through an initial public offering (IPO) and are traded on at least one stock exchange or in the over-the-counter market.