Check Number 6135 for $576 Was Incorrectly Entered as $657

question 37

Multiple Choice

Check Number 6135 for $576 was incorrectly entered as $657.Which adjustment needs to be made?

• A) Decrease the book balance.
• B) Decrease the bank statement balance.
• C) Increase the book balance.
• D) Increase the bank statement balance.

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Definitions:

Job Order Cost System

An accounting system that assigns costs to specific production batches or jobs, useful for companies producing unique or custom products.

Process Cost System

A method of accounting used in manufacturing where costs are assigned to products based on the processes they undergo.

Fringe Benefits

Additional compensations given to employees beyond their regular salary or wages, such as health insurance, retirement plans, or company cars.

Factory Labor

The workforce involved in the manufacturing process, whose wages are considered direct costs to the production of goods.