How is a customers NSF check reflected on a bank reconciliation?

A. Added to the unadjusted book balance to get the true cash balance

B. Subtracted from the unadjusted bank balance to get the true cash balance

C. Added to the unadjusted bank balance to get the true cash balance

D. Subtracted from the unadjusted book balance to get the true cash balance

The lower-of-cost-or-market rule can be applied to which of the following?

A.Major classes or categories of inventory

B. Each individual inventory item

C. The entire stock of inventory in the aggregate

D. All of the above are correct

Which of the following occurs when a company replenishes its petty cash fund?

A. Cash increases

B. Petty cash decreases

C. Cash decreases

D. Expenses decrease

Which of the following describes an activity that reduces a companys bank account balance?

A. A debit memo

B. A credit Memo

C. A deposit in transit

D. A reconciling entry