Designs on You
the Following Information Relates to the Company's

question 99

Multiple Choice

Designs on You
The following information relates to the company's May bank reconciliation:
$\begin{array}{llr} \text { Bank statement balance} &\$5,000\\ \text { Unadjusted cash balance according to company records } &?\\ \text { Deposit in transit } &1,000\\ \text { Outstanding cheques} &500\\ \text { Bank service charges } &50\\ \text { Interest earned on the bank account } &10\\ \text { Customer's NSF cheque returned by the bank } &25\\\end{array}$
In addition, a cheque was recorded in the accounting records as $1,200 but the correct amount as recorded by the bank was only $1,000.
-Refer to the figure Designs on You.What is the unadjusted cash balance according to the company's records at May 31?

• A) $4,865
• B) $5,000
• C) $5,365
• D) $5,500

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Definitions:

Probes

In sales, questions asked by the salesperson to uncover the needs, interests, and objections of a potential buyer.

Obtain Information

The act of acquiring data, facts, or insights through various means, which can be used for decision-making, problem-solving, or to increase understanding.

SPIN Approach

A sales technique that focuses on Situation, Problem, Implication, and Need-Payoff questions to understand a prospect's needs and sell more effectively.

Fourth Category

A classification term that could refer to the additional grouping in a set, often used when items are divided into several distinct types.