Liam uses checks and a debit card, but does not always write all the transactions in his checkbook register. He has lost track of his checkbook balance. Liam looks up the "available balance" using online banking, and writes it on the next line as his new checkbook balance available to spend. What is wrong with Liam's method? a. Liam's method fails to consider whether he has written any outstanding checks. b. The reconciliation worksheet will not work properly using Liam's adjusted checkbook balance. c. Liam could have unexpected non-sufficient funds fees due on any checks that have not yet cleared the bank. d. All of the above.

Question

Gates

Business

26 November, 02:13

Liam uses checks and a debit card, but does not always write all the transactions in his checkbook register. He has lost track of his checkbook balance. Liam looks up the "available balance" using online banking, and writes it on the next line as his new checkbook balance available to spend. What is wrong with Liam's method? a. Liam's method fails to consider whether he has written any outstanding checks. b. The reconciliation worksheet will not work properly using Liam's adjusted checkbook balance. c. Liam could have unexpected non-sufficient funds fees due on any checks that have not yet cleared the bank. d. All of the above.

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Answers (1)

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Amaya Stanley · Answer 1

I believe the correct answer from the choices listed above is option D. The incorrect method that Liam did was all of the options being listed above. No matter what number he puts down if he does not take the outstanding checks and debits out he will not be able to keep track of his balance. Hope this answers the question.