Which of the following statements pertaining to bank reconciliations is false? a. Outstanding checks are deducted from the bank cash balance. b. Deposits in transit are added to the bank cash balance. c. Bank service charges are deducted from the bank cash balance. d. Non-sufficient funds checks identified in the bank statement are deducted from the book cash balance, not the bank cash balance.

Which of the following statements pertaining to bank reconciliations is false? a. Outstanding checks are deducted from the bank cash balance. b. Deposits in transit are added to the bank cash balance. c. Bank service charges are deducted from the bank cash balance. d. Non-sufficient funds checks identified in the bank statement are deducted from the book cash balance, not the bank cash balance.

Auditing: A Risk Based-Approach (MindTap Course List)

11th Edition

ISBN:9781337619455

Author:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg

Publisher:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg

Chapter10: Auditing Cash, Marketable Securities, And Complex Financial Instruments

Section: Chapter Questions

Problem 31CYBK

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