Which of the Following Is NOT a Common Reconciling Item

question 40

Multiple Choice

Which of the following is NOT a common reconciling item recorded in preparation of a company's bank reconciliation(s) ?

• A) deposits in transit
• B) bank charges
• C) cash in other accounts
• D) bank credits

Learn the effects of environmental factors on float management.

Understand the calculations involved in determining net float and the implications for cash management.

Understand methods to decrease a firm’s collection time.

Recognize the best cash management practices for firms with multiple offices and national customers.

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Definitions:

LiAlH4

Lithium aluminium hydride, a powerful reducing agent widely employed in organic chemistry for reducing carbonyl compounds to alcohols.

Primary Alcohol

An alcohol with the hydroxyl group (-OH) attached to a carbon atom that is connected to only one other carbon atom.

Grignard-Based Synthesis

A method of forming carbon-carbon bonds by reacting Grignard reagents (organomagnesium compounds) with electrophiles, crucial in the formation of alcohols, carboxylic acids, and other functional groups.

Benzyl Bromide

An organic compound consisting of a benzene ring attached to a bromomethyl group, used as a chemical intermediate in synthesis.