Outstanding cheques from the prior period which clear the bank in the current period
A) should be added to the balance per books.
B) should be deducted from the balance per books.
C) should be deducted from the balance per bank.
D) do not affect the current period's bank reconciliation.

Question

Quizplus · Accepted Answer

Outstanding cheques from the prior period that clear in the current period have already been accounted for in the previous period's bank reconciliation, so they do not affect the current period's bank reconciliation.

Outstanding Cheques from the Prior Period Which Clear the Bank