• 2022-06-07
    An analysis that explains any differences between the checking account balance according to the depositor’s records and the balance reported on the bank statement is a(n) . ( )
    A: bank reconciliation
    B: analysis of debits and credits
    C: trial reconciliation
    D: internal audit
    E: bank audit
  • A

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    • 0

      A firm's ________ reports the profit or loss for the firm over a specified time period. A: income statement B: balance sheet C: statement of cash flows D: bank statement

    • 1

      Balance funds only hold bank balances.

    • 2

      Tony's bank statement balance on 31 March X1 is $324,888.Bank charges of $50 have not been recorded in the cash book.<br/>Bank interest received of $3 has not been recorded in the cash book.Electronic payments of $32,438 have not cleared the bank statement.A cheque sent to the tax authority of $4,000 has not been presented. What is Tony's cash book balance at 31 March X1?(Please enter your answer in the box below (numbers only) for the value in $.)<br/>______

    • 3

      The bank issues documentary credits to a customer according to his credit-worthiness.

    • 4

      Which one of the following savings plans is not covered by federal deposit insurance? A: passbook account at a savings and loan B: regular checking account at a commercial bank C: money market account at a commercial bank D: money market fund with an investment company E: certificate of deposit at a commercial bank