The cash balance in a company's general ledger and the bank's balance on the bank statement will always be the same.

Question

Quizplus · Accepted Answer

The cash balance in the general ledger and the bank's balance on the bank statement may not always be the same due to outstanding checks, deposits in transit, bank fees, and other factors that can cause differences. This is why bank reconciliations are necessary to ensure both balances are accurate and to identify any discrepancies that need to be investigated and resolved.

The Cash Balance in a Company's General Ledger and the Bank's