A bank service charge would be included on the bank reconciliation as a(n):
A) addition to the balance per books.
B) subtraction from the balance per books.
C) addition to the balance per bank.
D) subtraction from the balance per bank.
Answer: B
Business
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a. true b. false
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An exemption affects a person's tax situation by
A) increasing the standard deduction. B) increasing the taxpayer's marginal tax rate. C) decreasing itemized deductions. D) reducing the taxpayer's taxable income. E) increasing tax-exempt income.
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