Indicate Whether Each of the Following Should Be (A) Added

question 28

Short Answer

Indicate whether each of the following should be (A) added to the bank statement balance, (B) subtracted from the bank statement balance, (C) added to the checkbook balance, or (D) subtracted from the checkbook when computing the reconciled balance.
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a.Deposit in transit to the bank
b.Bank service charge
c.Outstanding checks
d.Interest on the account
e.Error in checkbook: $20 variance due to a check for $55 being recorded as $35

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Definitions:

Scope Creep

Adding functions to an information system after the project has begun.

Project Initiation

The phase in which a project is formally started, its scope defined, and stakeholders committed.

Functions Addition

The process of incorporating new capabilities or functionalities into an existing system or software.

Conversion Expense

Costs associated with converting raw materials or inputs into finished products, including labor, machine time, and other processing expenses.