Timing differences on a bank reconciliation include all of the following except:
A)Bank Errors
B)Deposits in Transit
C)Outstanding Checks
D)Interest Earned on the Account

Question

Quizplus · Accepted Answer

Bank errors are not considered timing differences in a bank reconciliation. Timing differences are discrepancies that arise due to the different times at which transactions are recorded by the bank and the company. Bank errors are mistakes made by the bank and do not relate to the timing of transaction recording.

Timing Differences on a Bank Reconciliation Include All of the Following