The process of bringing the book and the bank balance into agreement is called

Question

Quizplus · Accepted Answer

Reconciling the bank statement involves comparing the transactions on the bank statement to the transactions in the company's own records to ensure they match and to identify any discrepancies. This process helps bring the book balance (the balance in the company's records) into agreement with the bank balance (the balance reported by the bank on its statement).Option B, proving the cash, refers to a broader process of verifying the accuracy of cash transactions and may include reconciling various cash accounts such as a cash register and a bank account. Option C, preparing a statement of payment, and option D, preparing a statement of disbursements, do not necessarily involve comparing the company's records to the bank's statement and therefore are not the best choices for this question.

The Process of Bringing the Book and the Bank Balance