It is not necessary for businesses to reconcile their chequing accounts since banks keep accurate records and provide internal control support for cash.

Question

Quizplus · Accepted Answer

It is necessary for businesses to reconcile their chequing accounts to ensure that their own records match the bank's records and to catch any errors or fraudulent activity. While banks do provide internal control support for cash, it is still the responsibility of the business to verify the accuracy of their account.

It Is Not Necessary for Businesses to Reconcile Their Chequing