Multiple Choice
In reconciling a bank statement, the bank balance is $1000 and the chequebook balance is $1205. Which of the following is the MOST probable reason why the chequebook balance is larger than the bank balance?
A) The bank has not cleared certain cheques.
B) The bank has added interest revenue to the account balance.
C) A deposit in transit was made at the end of the month.
D) The bank received an EFT from a customer.
Correct Answer:
Verified
Correct Answer:
Verified
Q2: The entry to record the establishment of
Q3: Prepare any necessary journal entries based on
Q4: An NSF cheque would be entered into
Q5: A cheque written for $68.30 in payment
Q6: Which of the following would be a
Q7: A cheque cashed by the payee for
Q8: A system that relies on electronic communications,
Q9: Which of the following describes the internal
Q10: An NSF cheque should be added to
Q11: Outstanding cheques in a bank reconciliation should