1. MC.06.003 From a bank's viewpoint, a customer's account in the bank is considered a: a. revenue. b. surplus. c. donation: d. liability. e. contra asset. 2. MC. 06.009 The ledger balance of cash may differ from the bank statement balance because of a. service charges. b. NSF checks. c. deposits in transit. d. outstanding checks. e. All of these choices are correct. 3. MC. 06.016 The amount of cash appearing on the November 30 balance sheet is the amount a. of cash added to the book balance on the bank reconciliation. b. reported on the October 31 bank statement. c. shown as the adjusted balance on the bank reconciliation statement. d. reported on the November 30 bank statement. e. of cash deducted from the book balance on the book reconciliation. 4. MC. 06.017 After preparing the bank reconciliation, journal entries must be prepared for a. all items on the bank's side. b. any errors made on the books revealed by the bank reconciliation. c. any errors made by the bank revealed by the bank reconcillation. d. only deposits in transit. e. only outstanding checks. 5. MC. 06.022 When a Petty Cash Fund has been established, which of the following relationships should be true at all times? a. Petty Cash Fund = Cash in the petty cash box - Petty cash vouchers b. Petty Cash Fund = Petty cash vouchers c. Petty Cash Fund = Cash in the petty cash box + Petty cash vouchers d. Petty Cash Fund = Cash in the petty cash box e. Petty Cash Fund = Cash in the petty cash box $100 6. MC.06.028 Which of the following statements is true about a debit balance in a Change Fund? a. It is classified as an asset and is recorded on the balance sheet. b. It is classified as a revenue account and is recorded on the income statement. c. It is classified as owner's equity and is recorded on the balance sheet. d. It is classified as a liability and is recorded on the balance sheet