A bank reconciliation statement is a statements that is Drawn up by the business to verify the cash book balance with the bank statement balance O Drawn up by the bank to verify the cash book O Sent by the bank when the business has made an error O Sent by the bank when the account is overdrawn.

A bank reconciliation statement is a statements that is Drawn up by the business to verify the cash book balance with the bank statement balance O Drawn up by the bank to verify the cash book O Sent by the bank when the business has made an error O Sent by the bank when the account is overdrawn.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Concept explainers

Bank Reconciliation Statement

As a commerce student, we all know that every business has to maintain a cash book to maintain all his cash and bank transactions. A cash book is a book which has two columns, one cash column and one bank column.

Question

A bank reconciliation statement is a statements that is
券
Drawn up by the business to verify the cash book balance with the bank statement
balance
ODrawn up by the bank to verify the cash book
O Sent by the bank when the business has made an error
O Sent by the bank when the account is overdrawn.

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