Which of the Following Would NOT Need to Be Accounted

question 35

Multiple Choice

Which of the following would NOT need to be accounted for in a bank reconciliation?

• A)Deposits outstanding recorded by the company but not the bank.
• B)Interest earned recorded by the bank but not the company.
• C)NSF checks recorded by the bank but not by the company.
• D)Checks written by the company and recorded by the bank.

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Definitions:

Journal Entries

Recorded transactions in the accounting system, documenting financial changes in accounts.

Percent of Sales

Percent of sales is a financial analysis tool that helps in estimating how certain accounts, like revenue and expenses, will vary in proportion to changes in sales.

Bad Debts

Debts that are not recoverable and are written off as a loss by the business because they cannot be collected.

Journal Entries

Journal entries are the recordings of financial transactions in the books of accounts, serving as the primary input in the accounting system.