PRC-1 · Chapter 9 · Question 86 of 100
A Bank Reconciliation Statement is normally prepared:
Test yourself: pick an answer
Reveal answer & explanation
Correct answer: B) Periodically, usually at the end of each month
Explanation
To maintain strong internal controls and ensure accuracy, bank reconciliations are typically prepared on a regular, periodic basis, most commonly monthly upon receipt of the bank statement.
More Bank Reconciliations MCQs
- Q88Which side of the cash book is used to record bank deposits and receipts?
- Q89Which side of the cash book is used to record cheques issued to suppliers?
- Q90If the bank statement shows an overdraft of Rs. 5,000, and unpresented cheques amount to Rs. 2,000, what is the cash book balance…
- Q91If the bank statement shows an overdraft of Rs. 5,000, and uncredited cheques amount to Rs. 2,000, what is the cash book balance (assuming…
- Q92If the adjusted cash book shows an overdraft of Rs. 4,000, and unpresented cheques amount to Rs. 3,000, what is the bank statement balance?
