A Check for $342 Was Erroneously Charged by the Bank

question 77

True/False

A check for $342 was erroneously charged by the bank as $432. In order for the bank reconciliation to balance, you must add $90 to the bank statement balance.

---

Definitions:

Economic Regulation

Government-imposed restrictions on the economic activities of individuals or companies to correct market failures or achieve social goals.

Administrative Agencies

Government bodies responsible for the oversight and administration of specific legislation and regulation in various sectors.

Congress

A legislative body of a country, typically bicameral, responsible for making laws and representing the electorate.

Judicial Branch

The branch of government responsible for interpreting the laws, ensuring justice, and administering the legal system within a country or state.