In Preparing the Bank Reconciliation,certain Transactions Recorded by the Depositor

question 21

Multiple Choice

In preparing the bank reconciliation,certain transactions recorded by the depositor may not have been recorded by the bank.Which of the following is an example of this type of transaction?

• A)Service charges
• B)Outstanding checks
• C)Credit for interest earned
• D)Charges for NSF checks

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Definitions:

Direct Materials

Raw materials that can be directly attributed to the production of finished goods, considered a variable cost.

Flexible Budget

A budget that adjusts or flexes with changes in volume or activity, allowing companies to better forecast costs and revenues.

Personnel Expenses

Costs associated with employing staff, including wages, benefits, and training costs.

Planning Budget

A financial plan that estimates the revenue and expenses for a specific period in the future, often used for setting financial goals.