If the Bookkeeper Mistakenly Records a Deposit of $530 as $350,the

question 130

Multiple Choice

If the bookkeeper mistakenly records a deposit of $530 as $350,the error would be shown on the bank reconciliation statement as a:

• A) $180 deduction from the book balance
• B) $180 deduction from the bank balance
• C) $180 addition to the bank balance
• D) $180 addition to the book balance

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Definitions:

Market Price

The present cost at which a good or service may be purchased or sold within a market.

Income Statement

An income statement is a financial document that shows a company's revenues and expenses over a specific period, ultimately demonstrating the company's net profit or loss.

Year Ended

Refers to the end of an accounting period or fiscal year, marking the time for preparing financial statements and closing books.

Cash Flows

The total amount of money being transferred into and out of a business, particularly in terms of liquidity, financing, and investing activities.