QUESTION 11 

1. How frequently should the bank reconciliation be performed?
2. Weekly
3. Each time wages are paid to employees
4. Annually
5. Quarterly
6. Monthly

QUESTION 12

1. On the bank reconciliation, service charges should be:
2. Added to the bank side
3. Deducted from the bank side
4. Deducted from the book side
5. Added to the book side
6. Deducted from the book side and added to the bank side

QUESTION 14

1. Duringthe bank reconciliation, you realize that the bank charged your account for another company's check. To adjust for this error, you must:
2. reduce the bank balance by the amount of the check
3. reduce the book balance by the amount of the check
4. increase the book balance by the amount of the check
5. increase the bank balance by the amount of the check

QUESTION 15

1. During the bank reconciliation, you notice that the bank deducted $3,321 for check 3201, which was made out for the correct amount of $3,123. What adjustment do you make?
2. Increase the bank balance by $198
3. Reduce the bank balance by $198
4. Increase the book balance by $198
5. Reduce the book balance by $198

QUESTION 17

1. While reviewing a trial balance, you notice the following account balances. Which one is likely to be an error?
2. Cost of Goods Sold with a debit balance of $123,000
3. Sales Discounts with a debit balance of $3,000
4. Cash with a debit balance of $89,000
5. Retained Earnings with a credit balance of $80,000
6. Inventory with a credit balance of $6,600

QUESTION 18

1. On a trial balance, there is difference between total debits and total credits divisible by 9. If this is the only error, you can track it down and make the correction if this is:
2. a misclassification error
3. an omission error
4. a doubling error
5. a transposition error

QUESTION 19

1. In a trial balance, if the total debits do not equal the total credits and the difference is divisible by 2, the error could be the result of:
2. Showing a debit balance as a credit or a credit balance as a debit
3. Omitting an account balance
4. Using the wrong accounts in a journal entry
5. Reversing two digits
6. Adding or deleting one or more zeros to or from an amount

QUESTION 20

1. Bad debt expense of $500 recorded as $5,000 is an example of:
2. a transposition error
3. a classification error
4. a slide error
5. use of an incorrect estimate