If a Bank Reconciliation Includes Interest Revenue Collected by a Bank,a

question 198

True/False

If a bank reconciliation includes interest revenue collected by a bank,a journal entry is required which credits Cash and debits Interest Revenue.

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Definitions:

Modified

Altered or changed in form, character, or substance, usually to improve or adapt to different situations.

Intentional Torts

Legal wrongs resulting from actions taken with the intent to cause harm or injury, as opposed to resulting from negligence or accidents.

Negligent Torts

Legal claims arising from acts or omissions that constitute a breach of a duty of care, leading to harm or injury to another party.

Reasonable Care

The degree of caution and concern an ordinarily prudent and rational person would use in similar circumstances.