Which of the Following Procedures Is Not Part of Preparing

question 76

Multiple Choice

Which of the following procedures is not part of preparing a bank reconciliation of a checking account?

• A)Tracing deposits listed on the bank statement to the books to identify deposits in transit
• B)Arranging canceled checks in numerical order and tracing them to the books to identify outstanding checks
• C)Identifying items added on the bank statement which have not been recorded as cash receipts by the company
• D)Preparing adjustments to reverse the transactions recorded for checks that are still outstanding

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Definitions:

Inflation Rate

The percentage increase in the price level of goods and services in an economy over a period of time, indicating how fast prices are rising.