Which one of the following items may not require an account reconciliation at month end -

Question

Quizplus · Accepted Answer

Account reconciliation at month end typically involves matching the company's financial records against those of the bank to identify discrepancies. Items such as outstanding deposits (A), outstanding checks (B), and bank service charges (D) directly affect the balance of a bank account and therefore require reconciliation. Approval of a bank loan (C), however, does not directly impact the bank account balance in the context of reconciliation, as it pertains to a new financial arrangement rather than the existing balance of funds.

Which One of the Following Items May Not Require an Account