liam uses checks and a debit card, but does not always write all the transactions in his checkbook register…

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 liams method? a. liams method fails to consider whether he has written any outstanding checks. b. the reconciliation worksheet will not work properly using liams 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. please select the best answer from the choices provided

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 liams method? a. liams method fails to consider whether he has written any outstanding checks. b. the reconciliation worksheet will not work properly using liams 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. please select the best answer from the choices provided

Answer

Brief Explanations:

  • Option a: Outstanding checks not considered in his method.
  • Option b: Reconciliation is affected by his approach.
  • Option c: Non - sufficient funds risk due to uncleared checks. Since all these issues are valid, all options are correct.

Answer:

D. All of the above