Solved

If a Check Written by a Firm Is Not Canceled

Question 32

Multiple Choice

If a check written by a firm is not canceled by the bank and returned with the month's bank statement,the firm should


A) consider this check as outstanding when preparing the bank reconciliation.
B) immediately notify the bank requesting that it correct its records.
C) adjust the balance in the firm's checkbook to reflect the data that appears in the bank's records.
D) make no adjustment when preparing the bank reconciliation.

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions