If a Bank Reconciliation Included Deposits in Transit Amounting to $1,500,the

question 10

Multiple Choice

If a bank reconciliation included deposits in transit amounting to $1,500,the journal entry to record this reconciling item would include:

• A) no entry is required
• B) a credit to Accounts Receivable for $1,500
• C) a debit to Cash for $1,500
• D) a credit to Cash for $1,500

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Definitions:

Ethical Issue

A situation or problem that requires an individual or organization to choose between alternatives that must be evaluated as right or wrong.

CHARACTER COUNTS!

A framework for teaching ethics and character education focusing on six core ethical values such as trustworthiness, respect, responsibility, fairness, caring, and citizenship.

Kohlberg

refers to Lawrence Kohlberg, an American psychologist best known for his theory of stages of moral development.

Morality Stage

A phase in moral development characterized by changing beliefs and behaviors related to concepts of right and wrong.