If the Balance on the Bank Statement Does Not Equal

question 182

Multiple Choice

If the balance on the bank statement does not equal the balance in the cash account, then it can be assumed that:

• A) The company has no errors in its records concerning the cash account.
• B) The bank has made errors in preparing the statement.
• C) The company has made errors in is records concerning the cash account.
• D) There will be items reconciling the difference.

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Definitions:

Equality

The state or condition of being equal, especially in status, rights, and opportunities.

Efficiency

The optimal allocation of resources in a manner that maximizes output or outcomes.

Equality

The state of being equal, especially in status, rights, or opportunities.

Society's Resources

The assets, both physical and intangible, available to a society or community for the purpose of production, development, and support.