Chapter 4 - Mid Term Review questions (with answers).pdf - Mid Term Review Questions Chapter 4 Multiple Choice 1 If the balance on the bank statement

Chapter 4 - Mid Term Review questions (with answers).pdf -...

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Mid Term Review Questions Chapter 4: Multiple Choice: 1) If the balance on the bank statement does not equal the balance in the company's Cash account,then you can conclude that: A) the company accountant made an error in the accounting processB) the bank made an errorC) both the company accountant and the bank made errorsD) there are some reconciling items that, when identified, will explain the differences between thebalancesAnswer: D 2) In a bank reconciliation, items recorded by the bank but not yet recorded by the company include: 3) In a bank reconciliation, an EFT cash receipt is: 4) In a bank reconciliation, interest revenue is: 5) If a bookkeeper mistakenly recorded a disbursement of $63 instead of the correct amount of $36, theerror would be shown on the bank reconciliation as a: A) $36 addition to the booksB) $36 deduction from the booksC) $27 addition to the booksD) $27 deduction from the booksAnswer: C
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