Which One of the Following Is True of the Bank

question 40

Multiple Choice

Which one of the following is true of the bank reconciliation?

• A)It should not be prepared by an employee who handles cash transactions.
• B)It is prepared in place of the cash ledger.
• C)It is a financial statement.
• D)It guarantees that no errors have been made.

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Definitions:

Typist

An individual who specializes in typing text, often using a keyboard or typewriter, to create documents, reports, or other written materials.

Wage Rate

The amount of money paid to an employee per unit of time, such as an hour or a year.

Economic Pie

A metaphorical representation of the total amount of wealth or resources available in an economy that can be divided among its participants.

Dollar Value

The worth or purchasing power of one United States dollar in terms of goods or services.