Question 14 (1 point) The drawee is the Question 14 options: person who reconciles the account. person to whom the cheque is payable. person who writes the cheque. bank that drawer has an account with. Question 15 (1 point) When a bank debits your account, it is decreasing the balance. Question 15 options: True False Question 16 (1 point) A deposit received by the bank will include Question 16 options: a credit to the cash account on the company's books. no increase or decrease is made to the company's bank account. a debit to the company's bank account. a credit to the company's bank account. Question 17 (1 point) When a company transfers funds among parties electronically, without the use of paper cheques it is called Question 17 options: cheque truncation. e-commerce. electronic funds transfer. automated reconciliation. Question 18 (1 point) Advantages of online banking include Question 18 options: convenience. transaction speed. effectiveness. All of the above are correct. Question 19 (1 point) SWIFT codes are used for Question 19 options: identifying a payee in another country. identifying a particular branch of a bank worldwide. speeding up deposits. making certain any cheques written are cleared as soon as possible. Question 20 (1 point) The bank statement shows Question 20 options: the beginning bank balance of the cash at the start of the month. the cheques the bank has paid and any deposits received. any other charges or additions to the bank balance. All of these answers are correct. Question 21 (1 point) Outstanding cheques Question 21 options: have been returned to the business for nonpayment. have not been presented to the bank for payment but have been subtracted in the ledger account. B) have not been presented to the bank for payment and have not been subtracted from the company's ledger account. A) have been subtracted on the bank records but not the chequebook records. Question 22 (1 point) A nonsufficient funds cheque was returned to your company. How does the bank treat this on your bank statement? Question 22 options: It is shown as a credit memo. It is shown as a debit memo. It is added to the bank balance. None of these answers are correct. Question 23 (1 point) Information to calculate the adjusted cash balance for Everest Climbing Gear is as follows: Cash balance per general ledger $4,000 Customer's cheque returned--NSF 150 Bank service charges 80 Deposits in transit 1,000 Outstanding cheques 1,400 Customer's note collected by bank 1,290 Question 23 options: $4,660 $4,860 $5,060 $5,260 Question 24 (1 point) The May bank statement for Accounting Services shows a balance of $6,300, but the balance per books shows a cash balance of $7,980. Other information includes 1. A cheque for $200 to pay the electric bill was recorded on the books as $20. 2. Included on the bank statement was a note collected by the bank for $300 plus interest of $30. 3. Cheques outstanding totaled $360. 4. Bank service charges were $50. 5. Deposits in transit were $2,140. Which item(s) should be subtracted from the balance per books? Question 24 options: Bank service charge None of the above are correct. Bank service charge and the note collected by the bank Cheques outstanding and bank service charge Question 25 (1 point) A payment for $49 is incorrectly recorded in the accounting records as $94. The $45 error should be shown on the bank reconciliation as Question 25 options: deducted from the balance per books. deducted from the balance per bank statement. added to the balance per bank statement. added to the balance per books.