If a Bank Statement Included a Bank Collection and Related

question 102

Multiple Choice

If a bank statement included a bank collection and related interest revenue, the journal entry to record this reconciling item should include a:

• A) debit to Cash.
• B) credit to Cash.
• C) debit to Note Receivable.
• D) debit to Note Payable.

---

Definitions:

Constituency

A body of voters in a specified area who elect a representative to a legislative body.

Significance Level

The probability of rejecting the null hypothesis when it is actually true, often denoted by alpha (α) and used as a threshold in hypothesis testing.

Percentage Points

A unit for the difference of two percentages, reflecting the absolute difference between them.

Variance

A measure of the dispersion of a set of data points around their mean value.