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Why Are Bank Reconciliations a Good Internal Control

Question 7

Multiple Choice

Why are bank reconciliations a good internal control?


A) Bank reconciliations allow the company to update the Cash account to equal the bank balance.
B) Bank reconciliations compare actual assets existing at the bank with accounting records.
C) Bank reconciliations allow the bank to update its cash to agree to the company's accounting records.
D) Bank reconciliations are not part of the internal control system.

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