The Amount of the Outstanding Checks Is Included on the Bank

question 81

Multiple Choice

The amount of the outstanding checks is included on the bank reconciliation as a(n) :

• A)deduction from the cash balance per books.
• B)addition to the cash balance per bank.
• C)deduction from the cash balance per bank.
• D)addition to the cash balance per books.

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Definitions:

Revenue Variance

The gap between what was expected in revenue and what was actually earned.

Budgeting Formulas

Mathematical expressions used to forecast and plan financial outcomes based on various inputs and assumptions.

Actual Level

The current, real-world status or extent of an activity or performance.

Revenue Variance

The difference between actual revenue and budgeted or forecasted revenue, indicating a company's financial performance.