Which of the following terms refers to the accounting process that identifies the causes of all differences between book and bank balances?

Question

Quizplus · Accepted Answer

Reconciling is the accounting process that identifies the causes of all differences between book and bank balances. Clearing house is a financial institution that facilitates the exchange of funds between banks. Float refers to the time it takes a check to clear or for funds to be transferred between accounts. Charge back is the return of funds to a consumer, often due to a disputed transaction.

Which of the Following Terms Refers to the Accounting Process