The Correct Order in Which the Steps in the Bank

question 60

Multiple Choice

The correct order in which the steps in the bank reconciliation process occur is:
I. Prepare the bank reconciliation
II. Tick off the items in the prior reconciliation with the bank statement
III. Tick off the cash receipts and cash payments journals with the bank statement
IV. Update the cash receipts and cash payments journals with unticked items from the bank statement

• A) III, II, IV, I
• B) III, IV, II, I
• C) IV, II, III, I
• D) II, III, IV, I

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Definitions:

Third Variable Assumption

The idea in research that a correlation between two variables might be explained by a third factor that affects both of the original variables.

Scientific Method

A systematic and logical approach to discovering how things in the universe work, involving observation, hypothesis formulation, experimentation, and conclusion.

Psychological Trait

A characteristic way of thinking, feeling, or behaving that is consistent over time and situations and distinguishes one individual from another.

Variables

Elements, features, or factors that can change or vary within a study or experiment, potentially influencing the outcomes.