Following the Completion of the Bank Reconciliation, an Adjusting Entry

question 131

Multiple Choice

Following the completion of the bank reconciliation, an adjusting entry was made that debited cash and credited Interest Revenue. Therefore the bank reconciliation must have included an item that was

• A) deducted from the balance per company's records
• B) deducted from the balance per bank statement
• C) added to the balance per bank statement
• D) added to the balance per company's records

---

Definitions:

Personal Wealth

Refers to the total value of all assets (such as money, investments, real estate) minus liabilities, owned by an individual or household.

Total Factor Productivity

A measure of the efficiency of all inputs used in the production process, reflecting the overall effectiveness with which inputs are converted into outputs.

Gini Coefficient

A statistical measure of income or wealth distribution within a nation, indicating inequality.

Quantitative Easing

A monetary policy where a central bank buys securities in the open market to increase the money supply and encourage lending and investment.