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Module 7 Quiz - Requires Respondus LockDown Browser

Question 2 (1 point)

Which one of the following items would be added to the balance per bank statement in a bank reconciliation?

A. Outstanding checks
B. Deposit in transit
C. Service charges
D. Interest on customer note



Answer :

GinnyAnswer

Final answer:

The question discusses bank reconciliation in business finance, specifically referring to an item added to the balance per bank statement.


Explanation:

The subject of the question:

The question pertains to bank reconciliation in the context of business finance.

Answer:

In a bank reconciliation, the item that would be added to the balance per bank statement is the Deposit in transit. This is an item that has been recorded by the company but has not yet been reflected in the bank statement.

Relevance:

Understanding bank reconciliation is crucial for businesses to ensure their financial records align with the bank's records, preventing discrepancies and ensuring accurate financial reporting.


Learn more about Bank Reconciliation and Business Finance here:

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