Which of the Following Is NOT Correct When Preparing a Bank

question 42

Multiple Choice

Which of the following is NOT correct when preparing a bank reconciliation?

• A)Outstanding checks are added to the balance per books.
• B)Deposits in transit are added to the balance per bank statement.
• C)Bank service charges are deducted from the balance per books.
• D)NSF checks are deducted from the balance per books.

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Definitions:

Living Will

A document in which a person expresses his or her advance directives.

Holographic Will

A will entirely handwritten, dated, and signed by the testator, which in some jurisdictions, is accepted as valid without being witnessed.

Oral Will

An Oral Will, also known as a nuncupative will, is a will that has been spoken aloud in front of witnesses, rather than written down, valid only in certain jurisdictions.

Settlor

A person who creates a trust.