After preparing a bank reconciliation, adjustments must be made for items reconciling the bank balance and items reconciling the book balance.

Name: After preparing a bank reconciliation, adjustments must be made for items reconciling the bank balance and items reconciling the book balance.
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Question

Quizplus · Accepted Answer

Adjustments are only made to the company's book balance after a bank reconciliation; the bank balance is not adjusted by the company because it reflects the bank's records, not the company's internal records.

After Preparing a Bank Reconciliation, Adjustments Must Be Made for Items