Kathryn's Account Is Not in Overdraft

question 19

Multiple Choice

Kathryn's account is not in overdraft. When preparing the bank reconciliation she found that the bank had incorrectly debited her account with $120. The proper procedure is to:

• A) deduct $120 from the bank balance in the general ledger and notify the bank.
• B) deduct $120 from the bank balance in the general ledger.
• C) add $120 to the bank statement balance in the bank reconciliation and notify the bank.
• D) do nothing as the bank will adjust the error when they balance.

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Definitions:

Transportation Strike

A cessation of work by employees in the transportation sector, aiming to protest working conditions or advocate for higher wages, significantly impacting public and cargo transport.

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The cognitive process of choosing between different alternatives or options, crucial in both consumer behavior and organizational strategy.

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The process by which products are classified into different categories or groups based on their characteristics or attributes.

Positioning Strategy

A marketing approach aiming to create a distinct brand identity and value proposition in the consumer's mind.