No Journal Entries Are Required for the Reconciling Items on the Bank

question 80

Multiple Choice

No journal entries are required for the reconciling items on the bank side because:

• A)those transactions have already been recorded in the company ledger.
• B)the adjusted balances on both sides are the same amounts.
• C)the amounts are immaterial.
• D)those transactions are already included in the bank balance.

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Definitions:

Favorable

A term used in financial analysis to describe a situation, condition, or variance that leads to a positive outcome or better-than-expected results.

Unfavorable

A term often used to describe a variance or result that negatively impacts a business or its financial performance.

Revenue Variance

The difference between actual revenue and budgeted or forecasted revenue, often analyzed to understand the performance of a business.

Patient-Visits

An indicator used in healthcare to quantify the number of visits or interactions between patients and healthcare providers.