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Practice mode Accounting

What are the benefits of preparing a bank reconciliation statement?

Correct answer C. All the three

Explanation

A bank reconciliation reveals errors in either record, shows delays in clearing deposited cheques and confirms the true bank balance, so all three benefits apply.

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Question 03 Accounting

Why is a bank reconciliation statement prepared?

Correct answer D. To bring out the reasons for the difference between the Balance as per Cash Book and the Balance as per Bank Statement

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