A bank reconciliation should be prepared periodically because
A) the company's records and the bank's records are in agreement
B) the bank has not recorded all of its transactions
C) any differences between the company's records and the bank's records should be determined, and any errors made by either party should be discovered and corrected
D) the bank must make sure that its records are correct

Question

Quizplus · Accepted Answer

Bank reconciliations should be prepared periodically to ensure that any differences between the company's records and the bank's records are determined and any errors made by either party are discovered and corrected. It is important to reconcile bank accounts regularly to maintain accurate financial records and prevent fraud or errors.

A Bank Reconciliation Should Be Prepared Periodically Because