differences occur when the bank is not aware of a particular transaction recorded by the business....
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
differences occur when the bank is not aware of a particular transaction recorded by the business. A. Direct B. Timing C. Adjusting D. Errors Q.1.2. When dealing with an outstanding EFT in the bank reconciliation process. The best course of action is to subtract the outstanding EFT on the A. Cashbook Payment B. Cashbook Receipt C. Bank Reconciliation statement D. Bank Account Q.1.3. Errors made by the bank in the bank statement, are corrected on the: A. Cash Book Payment B. Cash Book Receipt C. Bank Account General Ledger D. Bank Reconciliation Statement Q.1.4. If the Bank overstates an EFT on the bank statement they can be considered as an: A. Direct B. Timing C. Adjusting D. Error Q.1.5. Interest debited on an unfavorable bank statement balance but not recorded in the cashbook payments should be recorded on: A. Cashbook Payment B. Cashbook Receipt C. Bank Reconciliation statement D. Bank Account differences occur when the bank is not aware of a particular transaction recorded by the business. A. Direct B. Timing C. Adjusting D. Errors Q.1.2. When dealing with an outstanding EFT in the bank reconciliation process. The best course of action is to subtract the outstanding EFT on the A. Cashbook Payment B. Cashbook Receipt C. Bank Reconciliation statement D. Bank Account Q.1.3. Errors made by the bank in the bank statement, are corrected on the: A. Cash Book Payment B. Cash Book Receipt C. Bank Account General Ledger D. Bank Reconciliation Statement Q.1.4. If the Bank overstates an EFT on the bank statement they can be considered as an: A. Direct B. Timing C. Adjusting D. Error Q.1.5. Interest debited on an unfavorable bank statement balance but not recorded in the cashbook payments should be recorded on: A. Cashbook Payment B. Cashbook Receipt C. Bank Reconciliation statement D. Bank Account
Expert Answer:
Answer rating: 100% (QA)
The detailed answer for the above question is provided below Q11 When differences occur when the bank is not aware of a particular transaction recorde... View the full answer
Related Book For
Auditing a risk based approach to conducting a quality audit
ISBN: 978-1133939153
9th edition
Authors: Karla Johnstone, Audrey Gramling, Larry Rittenberg
Posted Date:
Students also viewed these accounting questions
-
Jack needs $300,000 for a luxury car. Jack currently has $18,130 to invest. He has found a mutual fund with an expected annual return of 7.5% in which he will place the money. How long will it take...
-
Planning is one of the most important management functions in any business. A front office managers first step in planning should involve determine the departments goals. Planning also includes...
-
Managing Scope Changes Case Study Scope changes on a project can occur regardless of how well the project is planned or executed. Scope changes can be the result of something that was omitted during...
-
What aspects of control must exist before a subsidiary is consolidated?
-
A car starts from rest and the graph of its position function is shown in the figure, where is measured in feet and in seconds. Use it to graph the velocity and estimate the acceleration at t = 2...
-
How does the interplay between genotype and phenotype, encompassing intricate genetic regulatory networks and epigenetic modifications, contribute to the nuanced expression of traits and the...
-
Consider a situation where \(r\) and \(\lambda\) are constant. A zero-coupon bond has face value \(F\) and maturity \(T\). In the case of default at \(t\), there is partial recovery equal to...
-
When Godfrey died in 2013, his assets were valued as follows: The executor sold the stock two months after the decedent's death for $2,200,000. The bonds were sold seven months after the decedent's...
-
Explain clearly the pricing method of Zero-Growth Stock and Growth Stock, the impact of reinvestment or growth opportunities on Price-Earnings Ratio (PER), and the meaning of PER in making investment...
-
Richard and Christine McCarthy have a 19-year-old son (born 10/2/99; Social Security number 555-55-1212), Jack, who is a full-time student at the University of Key West. Years ago, the McCarthys...
-
Perdue Company purchased equipment on April 1 for $52,650. The equipment was expected to have a useful life of 3 years, or 3,780 operating hours, and a residual value of $1,620. The equipment was...
-
A shock to aggregate supply will also have different outcomes when there are different assumptions about the formation of the level of expected inflation. As in Question 4, one assumption is that the...
-
IBMs CEO, Sam Palmisano, likes to talk about the evolution of global strategy at one of the worlds largest computer enterprises. According to Palmisano, when IBM first started to expand...
-
Convergence in two sets of countries Consider three rich countries: France, Belgium, and Italy, and four poor countries, Ethiopia, Kenya, Nigeria, and Uganda. Define for each country the ratio of its...
-
Back in 1970, companies in the United States assembled more than 15 million bicycles a year. Then globalization took hold. As cross-border tariffs tumbled, U.S. bicycle companies increasingly...
-
Convergence between Japan and the United States since 1960 Using the data in the Penn World Tables, find real GDP per capita in the United States and Japan in 1960, 1990, and the most recent year...
-
#3 21,420 80 F3 $ 4 000 000 F4 Which one of the following is a strong base? A) Mg(OH)2 B) Ca(OH)2 C) NH3 D) CH3OH % 25 10 S FS < 6 1174 MacBook Air F6 & 7 44 F7 8 DII F8 @ ( 9 DD F9 ) 0 A F10 1 4 F1
-
What are some of the various ways to implement an awareness program?
-
In the late 1990s, Satyam Computer Services (Satyam) was a relatively unknown, family-owned information technology (IT) company located in Hyderabad, India. All that changed when Satyam was awarded a...
-
MULTIPLE-CHOICE QUESTIONS 1. Long-lived assets include which of the following? a. Tangible assets such as equipment. b. Intangible assets such as patents. c. Natural resources. d. All of the above....
-
What type of audit approach is typically planned for debt obligations? Why is this most often the most appropriate approach?
-
a. Suppose that General Hospital has a current ratio of 0.5. Which of the following actions would improve (increase) this ratio? Use cash to pay off current liabilities. Collect some of the current...
-
What is the role of internal control in an organization?
-
What are the elements and principles of the COSO framework?
Study smarter with the SolutionInn App