9. Checks paid to the suppliers but not yet esenied to the bank is nne of thereasons why differences arise on reciprocal accounts.10. Reciprocal accounts should always be equal. What's NewDirections: Write the letter "T" if the statement is correct and "F" if it is incorrect. VWritethe answer in the space provided before each number.True or False.1. Bank reconciliation statements are prepared to reconcile the differencebetween cash book and bank balance.2. Bank reconciliation statement is prepared by the account holder.3. Bank reconciliation statement keeps the record of transactions betweenthe bank and current account holder.4. A business receives bank staterment ard upoutes its cask book.5. Notes collected from the clients on the company's behalf in a bankstatement would cause the balance of the bank more than the balance ofthe book.6. A bank reconciliation statement is a statement showing the causes ofdifference between the cash book and the passbook balance.7. Bank reconciliation statement detects errors which have been committed.8. Bills that are collected by the bank on behalf of the customer is one of thereasons why differences arise between reciprocal accounts.

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s: Write the letter "T" if the er in the space provided before each number. 1. Bank reconciliation statements are prepared to reconcile the difference between cash book and bank balance. 2. Bank reconciliation statement is prepared by the account holder. 3. Bank reconciliation statement keeps the record of transactions betwee the bank and current account holder.

s: Write the letter "T" if the er in the space provided before each number. 1. Bank reconciliation statements are prepared to reconcile the difference between cash book and bank balance. 2. Bank reconciliation statement is prepared by the account holder. 3. Bank reconciliation statement keeps the record of transactions betwee the bank and current account holder.

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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