answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
maks197457
2 months ago
10

What are 3 important reasons to reconcile bank and credit card accounts at set dates?

Business
1 answer:
marusya05 [3.7K]2 months ago
8 0

Answer:

a) To confirm that transactions are assigned the correct dates.

c) To ensure that all transactions have been recorded for the specified timeframe.

d) To check that previously reconciled transactions remain unchanged since the last reconciliation.

Explanation:

Reconciling bank and credit card statements is crucial for several reasons:

To ascertain that the transactions are dated accurately. This is key to prevent fraud and guarantee accurate transaction records.

To make certain that every transaction during the period has been captured. This ensures that the balance shown on the card corresponds to actual activities during the timeframe.

To verify that transactions previously reconciled have not been altered. This is important to avoid unexpected charges that cannot be traced.

You might be interested in
Modesto broker Killian Johnson has just received a money deposit and the related instructions from the buyer, Luis Alverez. Whic
Free_Kalibri [3773]

Answer: B) Deposit the money into Killian’s account, calculate his commission afterwards, then subtract that amount to determine the final sum owed to the principal, followed by issuing a check to the principal within 3 business days.

Explanation:

Killian has options for depositing the funds into the principal's account, an escrow account, or even into the broker's trust fund, depending on what is agreed upon with the seller; however, he cannot retain the funds for personal use. Killian is only entitled to earn his commission after the sale closes.

Advance commissions are not permissible, since various circumstances could prevent the successful execution of the deal, such as the home could be destroyed, the banking system collapsing, or the demise of either buyer or seller, among other unlikely events.

5 0
1 month ago
What strategies would you recommend that apple pursue in order to assure widespread consumer adoption of apple pay?
soldi70 [3635]

Here are some strategies that Apple should implement to guarantee widespread use of Apple Pay -

i) Encourage more merchants to accept it by educating them and providing devices at low costs

ii) Expand support across various platforms so that users of different devices can access Apple Pay services

iii) Boost visibility by collaborating with additional e-commerce platforms and applications

3 0
1 month ago
You are the manager of a firm that sells a leading brand of alkaline batteries. Click on the link below to access data on the de
Free_Kalibri [3773]
What is the question being asked?
6 0
1 month ago
It is August 14th and John has just purchased 100 shares of Cash Cow Inc. for​ $1,200 with a settlement date of August 16th. Cas
marusya05 [3725]

Answer:

A. For the dividend, John incurred a cost of $0.00 since he was not listed as the shareholder of record by August 15th. As a result, the dividend allocation was made to the stock's former owner.

Explanation:

The settlement date refers to when the buyer officially takes ownership of the shares, typically occurring two days after the trade date.

Hope this will help, please do comment if you need any further explanation. Your feedback would be highly appreciated.

4 0
1 month ago
When banks try to make their positioning strategies tangible through the ________ dimension, they make sure the exterior and int
Free_Kalibri [3773]

Answer:

Place

Explanation:

When banks attempt to actualize their positioning approaches through the Place aspect, they ensure that both the inside and outside are aesthetically pleasing, the arrangement of furniture and movement patterns are meticulously planned, and that the lines for waiting are kept to a minimum.

Positioning strategies: This strategy focuses on one or two specific areas to prioritize for the development of the brand and products within the market. Before putting these strategies into action, it is crucial to comprehend the company’s strengths and weaknesses, the needs of target customers, and the market position of competitors, which aids in effective planning and accomplishing the organization's goals.

There are multiple dimensions to consider in positioning strategies, depending on the type of analysis the firm wishes to undertake.

In the current example, the bank has applied the place dimension of positioning strategies to enhance customer appeal and maintain an orderly service flow within the bank.

4 0
21 day ago
Other questions:
  • A movie theater substantially decreases the price of its soda during the same week that a heavily advertised new movie is being
    13·1 answer
  • You’ve been asked to participate at a prestigious and well-attended annual conference within your industry. Your participation r
    5·1 answer
  • During a busy time at the bakery counter, a loyal customer/member stops you to chat. As he's talking, you notice a customer/memb
    7·2 answers
  • The Tolar Corporation has 400 obsolete desk calculators that are carried in inventory at a total cost of $26,800. If these calcu
    7·1 answer
  • Herbal Organics used actor and former NFL player Sweet Dave Brown to act as its spokesperson as the "Herbal Organics Man." It fi
    15·1 answer
  • If increasing physical capital increases productivity, why would a company not buy newer, faster computers for all its workers e
    15·1 answer
  • Buddy and Pablo are worthy competitors in the bakery business in Baltimore. Buddy recently negotiated a contract with a supplier
    11·1 answer
  • Dell computers would like to increase sales of their pdas. upper management has decided that they need to improve their position
    5·1 answer
  • Emergency room health care tends to have a demand curve that is very steeply sloped, while elective surgery does not. Why? Also,
    15·1 answer
  • Junker’s Stash started the Year 2 accounting period with the balances given in the financial statements model shown below. Durin
    5·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!