The process of bringing the balance of the bank statement and balance of the checking account into agreement is called:
A)Accounts payable.
B)Accounts receivable.
C)Bank reconciliation.
D)Debits and credits.
E)All.

Question

Quizplus · Accepted Answer

Bank reconciliation is the process of comparing the balance of the bank statement and the balance of the checking account, identifying any differences and then making adjustments to bring the two balances into agreement. Options A, B, D, and E are all accounting terms but are not relevant to bank reconciliation specifically.

The Process of Bringing the Balance of the Bank Statement