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

question 51

Multiple Choice

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

• A) added to the general ledger bank balance.
• B) subtracted from the general ledger bank balance.
• C) added to the bank statement balance in the reconciliation.
• D) subtracted from the bank statement balance in the reconciliation.

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Definitions:

Independent

Not influenced or controlled by others; in statistics, it refers to variables that are not related to each other.

Standard Deviations

A measure that quantifies the amount of variation or dispersion of a set of data values from the mean.

Soccer Team

A group of players, typically eleven, who participate together in the sport of soccer, competing in matches against other teams.

Random Variable

An unpredictable phenomenon's numerical outcome represented as a variable.