Practice mode 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

Explanation

Timing differences and errors make the cash book and bank statement disagree; the reconciliation identifies and explains each reason for the difference.

Report a problem

Answer checked How we write and check questions

Tip: press A, B, C or D to answer, and N for the next question.

Advertisement

Have a question about this answer?

Your email address will not be published. Required fields are marked *

Links and website addresses are not allowed in comments.