Which One of the Following Items Requires an Adjustment on the Bank

question 105

Multiple Choice

Which one of the following items requires an adjustment on the bank side of the bank reconciliation?

• A) interest earned
• B) a bank service charge
• C) a note collected by the bank
• D) deposits in transit

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Definitions:

Error Variable

The error variable represents the component of randomness or unexplained variance in a statistical model, distinguishing between the observed and predicted values.

Probability Distribution

A mathematical procedure that assesses the likelihood of different experiment outcomes.

Random Error Term

Refers to the unpredictable and inevitable fluctuations or deviations in data or experimental results that cannot be attributed to the variables being studied.

Variance

A statistical measure that represents the average squared deviation from the mean, showing how data points are spread out.