Which of the Following Items Are Reconciling Items on the Book

question 201

Multiple Choice

Which of the following items are reconciling items on the book side of the reconciliation?

• A) outstanding checks and correction of book error
• B) deposit in transit and NSF check
• C) bank service charge and outstanding checks
• D) bank service charge and correction of book error

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Definitions:

Comparative Advantage

The ability of an individual or economy to produce goods or services at a lower opportunity cost than competitors, leading to more efficient trade and production.

Microwave Oven

An electric oven that uses microwaves to heat or cook food by inducing polar molecules in the food to rotate and produce thermal energy.

Balance of Trade Surplus

A condition where a country's exports exceed its imports, resulting in a positive balance of trade.

Net Exports

The difference between a country's total value of exports and its total value of imports. If exports exceed imports, net exports are positive; if imports exceed exports, net exports are negative.