An internal report prepared to verify the accuracy of both the bank statement and the cash accounts of a business or individual is a(n):
A)internal audit.
B)bank reconciliation.
C)bank audit.
D)trial reconciliation.

Question

Quizplus · Accepted Answer

A bank reconciliation is an internal report prepared to verify the accuracy of both the bank statement and the cash accounts of a business or individual.

An Internal Report Prepared to Verify the Accuracy of Both