Kathryn's Account Is Not in Overdraft

question 4

Multiple Choice

Kathryn's account is not in overdraft.When preparing the bank reconciliation she found that the bank had incorrectly debited her account with $120.The proper procedure is to:

• A)Deduct $120 from the bank balance in the general ledger and notify the bank
• B)Deduct $120 from the bank balance in the general ledger
• C)Add $120 to the bank statement balance in the bank reconciliation and notify the bank
• D)Do nothing as the bank will adjust the error when it balances.

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Definitions:

Maslow's Theory

A psychological concept proposing a hierarchy of human needs, from basic physiological needs to self-actualization, influencing motivation.

Evidence-Based Management

The practice of making managerial decisions based on the best available scientific evidence, aiming to improve organization outcomes.

Knowledge Management

The process of creating, sharing, using, and managing the knowledge and information of an organization.

Cost Effective Logistics

The strategic implementation of logistics and supply chain operations to minimize costs while maximizing efficiency and effectiveness.