Assuming the Account Is Not in Overdraft,when Reconciling the Ledger

question 29

Multiple Choice

Assuming the account is not in overdraft,when reconciling the ledger with the bank statement a deposit in transit should be:

• A)Subtracted from the general ledger bank balance
• B)Added to the general ledger bank balance
• C)Subtracted form the bank statement balance in the reconciliation
• D)Added to the bank statement balance in the reconciliation

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Definitions:

Normal Distribution

A probability distribution that is symmetric about the mean, depicting that data near the mean are more frequent in occurrence than data far from the mean.

Binomial Distribution

A probability distribution that models the number of successes in a fixed number of independent Bernoulli trials with the same probability of success.

F-distribution

A probability distribution that arises in the analysis of variance and is used to calculate whether two observed variances are significantly different.

Matched Pairs

A study design where subjects are paired based on certain criteria, ensuring that each pair is similar except for the treatment given.