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Problem 1: The main purpose of the bank reconciliation is:
Select one:
a. to prove the accuracy of the ledger bank account.
b. to prove the accuracy of the general ledger.
c. to prove the accuracy of the trial balance.
d. to prove the accuracy of the financial statements
Problem 2: The debit balance of the trial balance is $256,000 and the credit balance of the trial balance is $265,000. This indicates which of the following?
a. Any of the above might have occurred
b. An account was posted twice
c. An account was posted for an incorrect amount
d. An account was not posted
Which the degree of operating leverage is defined as? % change in EBIT/ % change in contribution margin. / % change in EBIT/ % change in sales
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