The Bookkeeper Recorded a Deposit for the Wrong Amount

question 126

Multiple Choice

The bookkeeper recorded a deposit for the wrong amount. On the bank reconciliation, this will be a(n) :

• A) addition to the bank.
• B) subtraction from the bank.
• C) addition or subtraction from the books.
• D) non-reconciling item.

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Definitions:

Price

The amount of money expected, required, or given in payment for something.

Normal Good

A normal good is a type of good for which demand increases when income increases, and falls when income decreases, holding all other factors constant.

Income

Refers to the money received, especially on a regular basis, for work or through investments.

Normal Goods

Goods for which demand increases as consumer income rises, and falls when consumer income decreases, opposite to inferior goods.