A Bank Collected $200 on Behalf of Its Customer

question 100

Multiple Choice

A bank collected $200 on behalf of its customer. The $200 should appear on the bank reconciliation as:

• A)added to the bank balance.
• B)added to the book balance.
• C)deducted from the book balance.
• D)having no impact on the book balance.

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Definitions:

Demand

The inclination and capability of buyers to acquire products and services at specified prices.

Increase

An upward movement in quantity, size, number, value, or intensity of a particular variable.

Market Demand

The total quantity of a product or service that all consumers in a market are willing and able to buy at various prices, given a period of time.

Related Goods

Products or services that are either complements or substitutes to one another, affecting each other's demand and supply.