The Bank Collected a Note Receivable of $1,000

question 142

Multiple Choice

The bank collected a note receivable of $1,000.How would this information be included on the bank reconciliation?

• A) An addition on the bank side
• B) A deduction on the book side
• C) An addition on the book side
• D) A deduction on the bank side

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Definitions:

Last Clear Chance Doctrine

A largely outdated principle of torts that the last person capable of avoiding the accident is wholly responsible.

Liability

Legal responsibility for one's actions or omissions, which can lead to civil duty or financial compensation.

Age

The length of time that a person or entity has been alive or in existence.

Negligence

The failure to take appropriate care in doing something, leading to damage or injury to another.