While Reconciling the Checking Account, the Accountant Noticed That an Error

question 190

Multiple Choice

While reconciling the checking account, the accountant noticed that an error had been made in recording a check received by the company. The bookkeeper had recorded the receipt as $729 but the correct amount of the check was $279. Which of the following reconciling adjustments is necessary?

• A)Add $450 to the company's records.
• B)Deduct $450 from the company's records.
• C)Add $450 to the bank statement balance.
• D)Deduct $450 from the bank statement balance.

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Definitions:

Consensus Theory

A sociological perspective suggesting that social order and stability are maintained through a general consensus on values, norms, and rules within society.

Punishment

The imposition of a penalty as retribution for an offense, often used within the context of criminal justice to deter unlawful behavior.

Rational Factors

Elements or considerations based on reason, logic, or facts that influence decisions or behaviors.

Hate Crimes

Criminal acts motivated by bias or prejudice towards particular groups, often defined by race, religion, sexual orientation, or ethnicity.