Saturday, October 10, 2020

What is the primary purpose of a bank reconciliation?

What is the primary purpose of a bank reconciliation?


A) To ensure that debits equal credits for all cash transactions.

B) To ensure that customers are paying amounts owed on a timely basis.

C) To ensure the bank balance per reconciliation is equal to the company balance per reconciliation.

D) To ensure cash receipts are greater than cash disbursements


Answer: To ensure the bank balance per reconciliation is equal to the company balance per reconciliation.

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