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emmainna [20.7K]
2 years ago
8

An internal report prepared to verify the accuracy of both the bank statement and the cash accounts of a business or individual

is a(n):____.
A. trial reconciliation.
B. bank audit.
C. internal audit.
D. bank reconciliation.
Business
1 answer:
timurjin [86]2 years ago
7 0

Answer:

D. bank reconciliation.

Explanation:

A bank reconciliation mainly computed by an accountant, gives the difference between the balance in relation to the bank statement and the cash balance with respect to the accounting records of the depositor in a particular financial institution.

In Financial accounting, a bank statement can be defined as an official summary or list of financial transactions, which typically comprises of the amount of money that has been paid into or withdrawn from an account by an individual or business entity over a specific period of time.

Generally, a bank statement usually has the following information charges, deposits, withdrawals, including the opening and closing balance for each account held at a given the period. Thus, bank customers are advised to frequently reconcile their records with bank statements in order to prevent not-sufficient funds (NSF) checks.

A not-sufficient funds (NSF) checks refers to a check that isn't honored by the bank of the issuer due to the fact that the individual or business entity has an insufficient fund. It is also known as a bounced or bad check.

In conclusion, a bank reconciliation is an internal report that is prepared in order to verify the accuracy of both the bank statement and the cash accounts of a business or individual.

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3 years ago
The Italian government decides to stimulate the economy by sending checks worth $70 billion to Italian consumers If the governme
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<u>Explanation:</u>

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Answer:

Instructions are listed below.

Explanation:

Giving the following information:

She charges clients $2.60 per mile driven. She has determined that if she drives 2,500 miles in a month, her average operating cost is $2.40 per mile. If Bethany drives 5,000 miles in a month, her average operating cost is $2.00 per mile.

1) To calculate the variable and fixed cost, we need to use the following formulas:

Variable cost per unit= (Highest activity cost - Lowest activity cost)/ (Highest activity units - Lowest activity units)

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Net operating income= 750

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