QUESTION 6

Reducing expense to increase operating profit is representative of:

A.	safeguarding assets.
B.	following company policies.
C.	promoting operational efficiency.
D.	ensuring accurate, reliable accounting records.

QUESTION 7

Which of the following items will NOT appear on the book side of the reconciliation?

A.	The bank collected a note receivable of $1,000 for the business.
B.	A nonsufficient funds check of $75 was returned to the bank and deducted from the bank balance.
C.	A deposit was in transit and not yet deposited in the bank.
D.	The bank charged a service fee of $20 on the bank statement.