Your Company Makes a Bank Deposit of $857 in Its

question 60

Multiple Choice

Your company makes a bank deposit of $857 in its chequing account.Which of the following describes how this transaction should be accounted for?

• A)You add $857 to your recorded cash balance and the bank deducts $857 from your chequing account balance.
• B)You deduct $857 from your recorded cash balance and the bank deducts $857 from your chequing account balance.
• C)You add $857 to your recorded cash balance and the bank adds $857 to your chequing account balance.
• D)You deduct $857 from your recorded cash balance and the bank adds $857 to your chequing account balance.

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Definitions:

Fallacy

An error in reasoning or argumentation that leads to a conclusion being invalid or deceptive, often due to a flaw in the structure of the argument.

Equivocation

The misleading use of a term with more than one meaning or sense, causing a fallacy in argumentation due to ambiguous language.

Appeal to Ignorance

A logical fallacy in which it is claimed that a proposition is true because it has not yet been proven false, or vice versa.

Burden of Proof

The obligation to prove one's assertion or argument, typically resting on the party who makes a claim in a dispute.