No Journal Entries Are Required for the Reconciling Items on the Bank

question 230

Multiple Choice

No journal entries are required for the reconciling items on the bank side because ________.

• A) those transactions have already been recorded in the company's journal
• B) the adjusted balances on both sides are the same amounts
• C) the amounts are immaterial
• D) those transactions are already included in the bank balance

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Definitions:

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Working

Engaging in a physical or mental activity to achieve an objective, often to earn an income.

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The loss of potential gain from other alternatives when one particular option is chosen over others.

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An advanced academic course of study that follows a bachelor's degree, typically culminating in a master's or doctoral degree.