If the Bank Records a Deposit of $1,500 as $150

question 33

Multiple Choice

If the bank records a deposit of $1,500 as $150, the error should be shown on a bank reconciliation as a(n) :

• A)deduction from the book balance of $1,350.
• B)deduction from the bank balance of $1,350.
• C)addition to the bank balance of $1,350.
• D)addition to the book balance of $1,350.

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Definitions:

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A sum of money given to service workers that is significantly higher than the standard tipping percentage, often as a reward for exceptional service.

Signaling Mechanism

A method through which parties communicate information indirectly or directly to influence perceptions and decisions of others, often used in markets and negotiations.

Insurance Policy

A contract between an insurer and policyholder specifying coverage terms, including the risks insured against, the duration of coverage, and the amount of premiums.

Low Risk

Pertaining to situations, investments, or activities that have a minimal chance of negative outcomes or losses.