A Bank Service Charge Would Be Included on the Bank

question 118

Multiple Choice

A bank service charge would be included on the bank reconciliation as a(n) :

• A) addition to the balance per books.
• B) subtraction from the balance per books.
• C) addition to the balance per bank.
• D) subtraction from the balance per bank.

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Definitions:

Bankers

Individuals or institutions that are engaged in the business of dealing in money, providing loans, and accepting deposits.

1970s

A decade known for significant economic, political, and cultural changes worldwide, including the oil crisis and the end of the Bretton Woods system.

Interest-Rate Ceilings

Regulatory limits on the maximum interest rates that can be charged on loans, intended to protect consumers from excessive borrowing costs.

Ceiling Rates

The maximum interest rate that can be charged on a particular loan model or savings account, often regulated by law or government policy.