The Bank Statement Reveals an EFT Payment Made to One

question 245

Multiple Choice

The bank statement reveals an EFT payment made to one of the company's suppliers that has not yet been recorded in the journal.How would this information be included on the bank reconciliation?

• A) an addition on the bank side
• B) a deduction on the bank side
• C) a deduction on the book side
• D) an addition on the book side

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Definitions:

Just-In-Time Manufacturing

An inventory strategy companies use to increase efficiency and decrease waste by receiving goods only as they are needed in the production process, reducing inventory costs.

SWOT Analysis

A strategic planning tool used to identify and understand the Strengths, Weaknesses, Opportunities, and Threats related to business competition or project planning.

Inventory Costs

Inventory costs are expenses related to holding and managing goods for sale, including storage, insurance, and loss from unsold items.

SWOT Analysis

A strategic planning tool used to identify the Strengths, Weaknesses, Opportunities, and Threats related to a project or business venture.