Match Each Item to a Bank Statement Adjustment, a Company

question 20

Multiple Choice

Match each item to a bank statement adjustment, a company books adjustment, or either.
-Charges for some other company's safe deposit box were posted to your account

• A)Bank statement adjustment
• B)Company books adjustment
• C)Either

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Definitions:

Equipment

Long-term assets that are used in the production of goods and services; these are tangible in nature.

Accounts Receivable

Obligations of customers to pay a company for goods or services that have been dispensed but remain unpaid.

Journalize

The process of recording transactions in a company's journal, marking the first step in the accounting cycle.

Transactions

Economic events that involve transferring resources between entities, affecting financial statements.