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QUESTION 24 A check was written by a business for $205, but was recorded in the business' books as $502. How would this error be recorded on the bank reconciliation? (Hint: what has to be done to correct the error and who needs to correct it?) O A. A deduction on the book side O B. An addition on the book side O C. An addition on the bank side O D. A deduction on the bank side Click Save and Submit to save and submit. Click Save All Answers to save all answers. Save All Answers

QUESTION 24 A check was written by a business for $205, but was recorded in the business' books as $502. How would this error be recorded on the bank reconciliation? (Hint: what has to be done to correct the error and who needs to correct it?) O A. A deduction on the book side O B. An addition on the book side O C. An addition on the bank side O D. A deduction on the bank side Click Save and Submit to save and submit. Click Save All Answers to save all answers. Save All Answers

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Which is NOT a provision of Sarbanes-Oxley? O A. Auditors of public companies are under the scrutiny of the Public Company Accounting Oversight Board. O B. Those who commit securities fraud may be sentenced to 25 years in prison. OC. Accounting firms are allowed to provide both auditing services and a full range of consulting services to their public company clients. O D. Public companies must issue an internal control report evaluated by an outside auditor. QUESTION 24 A check was written by a business for $205, but was recorded in the business' books as $502. How would this error be recorded on the bank reconciliation? (Hint: what has to be done to correct the error and who needs to correct it?) O A. A deduction on the book side O B. An addition on the book side O C. An addition on the bank side O D.A deduction on the bank side Click Save and Submit to save and submit. Click Save All Ansvers to save all answers. Save All Answers BUS communication acc 101 practice fin.. Take Test: ACC 101 .
Transcribed Image Text:Which is NOT a provision of Sarbanes-Oxley? O A. Auditors of public companies are under the scrutiny of the Public Company Accounting Oversight Board. O B. Those who commit securities fraud may be sentenced to 25 years in prison. OC. Accounting firms are allowed to provide both auditing services and a full range of consulting services to their public company clients. O D. Public companies must issue an internal control report evaluated by an outside auditor. QUESTION 24 A check was written by a business for $205, but was recorded in the business' books as $502. How would this error be recorded on the bank reconciliation? (Hint: what has to be done to correct the error and who needs to correct it?) O A. A deduction on the book side O B. An addition on the book side O C. An addition on the bank side O D.A deduction on the bank side Click Save and Submit to save and submit. Click Save All Ansvers to save all answers. Save All Answers BUS communication acc 101 practice fin.. Take Test: ACC 101 .
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