OST 147: Chapter 16 Assignment

Fill in the blank: The final step in reconciling a bank statement is to make corrections to the ________.

• bank statement

• checkbook register

• financial report

• account balance

What should you ensure about all checks when the account does not balance?

• Ensure all checks are signed

• Ensure all checks are recorded

• Ensure all checks are voided

• Ensure all checks are deposited

What should you check regarding the totals on the deposits?

• The accuracy of the totals

• The currency used

• The date of the deposit

• The bank branch location

What should be accounted for in terms of electronic transactions?

• Security measures

• Transaction speed

• User interface

• All of the above

What charges need to be factored in when the account does not balance?

• Bank fees and service charges

• Interest charges

• Overdraft fees

• All of the above

What should be verified about worksheet calculations?

• Accuracy of formulas

• Formatting of cells

• Presence of comments

• Use of macros

You can request help from whom if needed when the account does not balance?

• Your manager

• A colleague

• The IT department

• The finance team

The first step in creating a payroll record is:

• Collecting employee information

• Calculating taxes

• Issuing paychecks

• Recording hours worked

Why is it important to check the approved I-9 documentation?

• To verify the identity and employment authorization of individuals hired for employment in the United States

• To ensure compliance with tax regulations

• To maintain employee records

• To track employee performance

What information should be recorded along with the employee's Social Security number?

• Employee's name

• Employee's address

• Employee's date of birth

• Employee's job title