Q.2.1 Stella a friend of yours recently started her own business. She was told that she needs to perform a bank reconciliation every month, but she does not understand what this entails. Q.2.1.1 Briefly explain to Stella the bank reconciliation process (6) Q.2.1.2 Stella has heard that there are 2 types of awareness differences, she would like to know what they are. Provide the 2 classifications of awareness differences
Q.2.1 Stella a friend of yours recently started her own business. She was told that she
needs to perform a bank reconciliation every month, but she does not understand
what this entails.
Q.2.1.1 Briefly explain to Stella the bank reconciliation process (6)
Q.2.1.2 Stella has heard that there are 2 types of awareness differences, she would like to
know what they are. Provide the 2 classifications of awareness differences
Step by step
Solved in 3 steps
Q.2.1.3
Explain to Stella why there would be differences between the transactions
recorded by the business and the bank
Q.2.1.4
Provide 1 example of each of the following:
1. Error committed by the bank
2. Error committed by the business
3. Timing differences where the business is not aware of a particular transaction
4. Timing differences where the bank is not aware of a particular transaction
by Bartleby Expert
