Use the Information Below to Answer the Following Questions

question 8

Multiple Choice

Use the information below to answer the following questions:
Tell Ltd’s bank statement showed a credit balance of $7000 at 30 November 2012. It also showed bank service charges of $1100 and the collection of a note for the company amounting to $300. Unpresented cheques were $700 and there was an outstanding deposit for $2300.
-What was the final bank balance in Tell Ltd's ledger at 30 November 2012?

• A) $5400 DR
• B) $5400 CR
• C) $8600 DR
• D) $8600 CR.

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Definitions:

Controlling

In management, controlling refers to the process of monitoring performance, comparing it with goals, and taking corrective action as needed to ensure that objectives are achieved.

Pricing

The process of determining the value that will be charged for a product or service.

Primary Functions

The main or core activities that are essential for the operation of a business or organization.

Organizations

Entities comprising of individuals working together towards a common goal or objective, structured and managed to meet a need or to pursue collective goals.