Question: True or False 1 6 . T / F: Outstanding checks reduce the bank balance during reconciliation. 1 7 . T / F: Deposits in

True or False
16. T / F: Outstanding checks reduce the bank balance during reconciliation.
17. T / F: Deposits in transit are added to the bank statement balance during reconciliation.
18. T / F: Cash and cash equivalents include unrestricted savings accounts and short-term investments with maturities of less than three months.
19. T / F: The petty cash fund is typically controlled by one person who is responsible for maintaining receipts and replenishing the fund.
20. T / F: Bank reconciliation errors always result in a debit or credit to cash in the accounting records.

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