Saturday, October 10, 2020

Which of the following is NOT a reason why a bank reconciliation is necessary?

Which of the following is NOT a reason why a bank reconciliation is necessary?


A) The company has transactions that the bank has not recorded.

B) Petty cash has a low balance.

C) The bank has transactions that the company has not recorded.

D) Reconciliations provide a control over cash.


Answer: Petty cash has a low balance.

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