Question 26 Answer saved Marked out of 1.

00

When preparing a bank reconciliation, di erences between the depositor’s records

and the bank statement can result from:

Select one:

a. Deposits in transit.

b. Bank service charges.

c. Items incorrectly recorded in the cash receipts journal.

d. All of the above.

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Question 27 Answer saved Marked out of 1.00

Each year the accountant for Northeast Real Estate Company adjusts the recorded
value of each asset to its market value. Using these market value gures on the
balance sheet violates:

Select one:

a. The accounting equation.

b. The stable-dollar assumption.

c. The business entity concept.

d. The cost principle.

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