Account reconciliation redirects funds from accounts in a large number of different banks to a few centralized accounts at one bank.

Name: Account reconciliation redirects funds from accounts in a large number of different banks to a few centralized accounts at one bank.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

Account reconciliation is a process used by companies to ensure that their financial records (bank statements, for example) are accurate and consistent with their internal records, not for redirecting funds between banks.

Account Reconciliation Redirects Funds from Accounts in a Large Number