Multiple Choice
If a company erroneously records a $500 deposit as $50 in its records, which of the following must occur when reconciling its bank statement?
A) The company must increase the balance per its records by $500.
B) The company must increase the balance per its records by $450.
C) The company must decrease the balance per its records by $500.
D) The company must decrease the balance per its records by $450.
Correct Answer:
Verified
Correct Answer:
Verified
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