The Following Information Is Available for Jack's,Inc What Is the Adjusted Book Balance on the Bank Reconciliation

question 16

Multiple Choice

The following information is available for Jack's,Inc.for the current month. $$\begin{array} { | l | r | } \hline \text { Book balance end of month } & \$ 7,000 \\\hline \text { Outstanding checks } & 675 \\\hline \text { Deposits in transit } & 4,000 \\\hline \text { Service charges } & 80 \\\hline \text { Interest revenue } & 40 \\\hline\end{array}$$ What is the adjusted book balance on the bank reconciliation?

• A)$10,205
• B)$7,635
• C)$6,880
• D)$6,960

---

Definitions:

Sample Size

The number of observations or data points that are collected from a subset of a larger population for the purposes of statistical analysis.

Pragmatic Concerns

Practical considerations or limitations that affect how research or a policy can be implemented.

Type II Error

A statistical error that occurs when failing to reject a false null hypothesis; also known as a false negative.

α

The significance level in hypothesis testing, typically representing the probability of committing a Type I error.