Question: The process of analyzing the differences between the bank statement balance and the checkbook balance is:

1. Checks outstanding

2. B. Bank audit

3. C. Deposits in transit

4. D. Bank reconciliation

5. E. None of these

6. Answer: D. Bank reconciliation

7. Question: Checks written that do not appear on your bank statement are:

8. A. Paid from the previous month

9. B. Not written correctly

10. C. Appear as a deposit

11. D. Credited to savings

12. E. None of these

13. Answer: E. None of these

14. Question: In the reconciliation process the unrecorded bank service charge is:

15. A. Added to checkbook balance

16. B. Deducted from checkbook balance

17. C. Added to bank statement balance

18. D. Deducted from bank statement balance

19. E. None of these

20. Answer: B. Deducted from checkbook balance

21. Question: When you are reconciling a bank statement, it’s recommended that you do the following:

22. A. List your balance

23. B. List your bank statements balance

24. C. Record checks outstanding

25. D. Record deposits outstanding

26. E. All of these

27. Answer: E. All of these

28. Question: Online banking

29. A. Is never accepted by all banks

30. B. Still holds checks for 10 days

31. C. Is usually safe

32. D. Is very unsafe

33. E. None of these

34. Answer: C. Is usually safe

35. Question:

36. Answer: E. None of these ($1,810.09)

37. Question: Which of the following are debited from a checking account?

38. A. ATM withdrawal

39. B. Returned check fee

40. C. Monthly service charge

41. D. Monthly electronic payment of utilities

42. E. All are debits

43. Answer: E. All are debits

44. Question:

45. Answer: C. $7,294.14

46. Question:

47. Answer: E. None of these ($1,365.00)

48. Question:

49. Answer: A. $5,392.30