Enclosed with the Bank Statement Received by Sydney Company at October

question 188

Multiple Choice

Enclosed with the bank statement received by Sydney Company at October 31 was an NSF check for $300.No entry has yet been made by the company to reflect the bank's action in charging back the NSF check.During preparation of the bank reconciliation,the NSF check should be:

• A)Deducted from the balance per the depositor's records.
• B)Deducted from the balance per the bank statement.
• C)Added to the balance per the bank statement.
• D)Added to the balance per the depositor's records.

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Definitions:

Enforcing The Budget

The process of ensuring that spending is in line with the budgets allocated by an organization.

Evaluating Performance

The process of assessing and reviewing the productivity, effectiveness, and efficiency of an individual, group, or entity, often in a business context.

Recurring Basis

A consistent and ongoing manner of operation or occurrence, typically referring to events or processes that happen at regular intervals.

Service Enterprises

Businesses that provide intangible products or services to customers, rather than selling physical goods.