In Reconciling a Bank Statement,the Bank Balance Is $1000 and the Checkbook

question 53

Multiple Choice

In reconciling a bank statement,the bank balance is $1000 and the checkbook balance is $1205.Which of the following is the MOST probable reason why the checkbook balance is larger than the bank balance?

• A) The bank has not cleared certain checks.
• B) The bank has added interest revenue to the account balance.
• C) A deposit in transit was made at the end of the month.
• D) The bank received an EFT from a customer.

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Definitions:

Formal Logic

A system of reasoning based on strict principles and rules aimed at deriving valid conclusions from given premises.

Letter/Number

Symbols or characters used in language systems and mathematics to represent sounds, words, quantities, or concepts.

System II

This term is likely meant to describe "System 2" from dual-process theories of cognition, which represents slow, analytical, and conscious thought processes.

System I

Often referred to as "System 1," it is a term from cognitive psychology that describes the fast, automatic, and often unconscious way of thinking.