O-LevelAccountingVerification of accounting records7707/12 · Oct/Nov 2019 · Q81 Mark
Which statement about a bank reconciliation statement is correct?
AIt is part of the double entry system.
BIt is prepared by the bank to compare the cash book balance with the bank statement balance.
CIt is prepared by the trader to compare the cash book balance with the bank statement balance.
DIt is only prepared when the bank account is overdrawn.
✓ Correct answer
C: It is prepared by the trader to compare the cash book balance with the bank statement balance.
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