The balance in Account 101 Checking should be the same as the balance on the:
A)Bank register.
B)Journal.
C)Transfer account.
D)None.
E)All.

Question

Quizplus · Accepted Answer

The balance in Account 101 Checking should be the same as the balance on the bank register since it reflects all the transactions made by the account holder. The journal may include other transactions that do not affect the balance of the checking account, and the transfer account only reflects transfers between accounts, not the actual balance of Account 101 Checking. Therefore, A is the best choice.

The Balance in Account 101 Checking Should Be the Same