The Following Data Were Obtained from the Bank Statement and from the Process

question 55

Multiple Choice

The following data were obtained from the bank statement and from the process of reconciling it: Bank service charges = $20
Deposit outstanding = $150
Interest earned on the bank account = $10
Checks outstanding = $400
Which items should be deducted from and added to the bank balance in completing the reconciliation?

• A)Deduct checks outstanding; add service charges and deposit outstanding.
• B)Deduct interest earned; add deposit outstanding.
• C)Deduct checks outstanding; add deposit outstanding.
• D)Deduct deposit outstanding; add checks outstanding.

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Definitions:

Commitment

A pledge or assurance to do something in the future, often within the context of personal or business relationships.

Canned Sales Presentations

Pre-designed sales pitches, often scripted, that are used repetitively across different sales situations, allowing little room for customization or adaptation to specific client needs.

Office Equipment

Tools and machinery used in an office for tasks such as computing, printing, and document storage, facilitating the smooth operation of business activities.

Customized Sales Presentation

A sales pitch tailored specifically to the needs, interests, and characteristics of the prospective customer.