An objective of preparing the bank reconciliation is to reconcile the bank balance at the end of the period with the company's book balance at the end of the period.

Question

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The objective of preparing the bank reconciliation is to compare and reconcile the bank balance shown on the bank statement with the corresponding balance in the company's accounting records, which is called the book balance. The process helps to detect any discrepancies or errors in the bank transactions recorded by the company and resolve them by adjusting the book balance accordingly. Ultimately, the goal is to arrive at an accurate and consistent balance of cash that reflects the company's true financial position.

An Objective of Preparing the Bank Reconciliation Is to Reconcile