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.

---

Definitions:

Decision Table Tool

A visual representation tool that summarizes complex decision logic by listing possible conditions and actions or outcomes in a table format.

Crystal Ball

Software used for predictive modeling, simulation, and forecasting, often utilized in financial analysis and project management.

Scenario Analysis Tool

A software or method used in risk management to predict and evaluate future events by creating plausible and varied sets of assumptions.

Crystal Ball

A metaphorical term often used to describe the attempt to predict or foresee future events, typically with uncertainty.