The process of verifying that the amounts on the bank statement are consistent with the amounts in the check register is known as:
A) reconciling
B) capitalizing
C) transferring
D) itemizing

Question

Quizplus · Accepted Answer

Reconciling is the process of ensuring that two sets of records (usually the balances of two accounts) are in agreement. In the context of bank statements and check registers, reconciling involves comparing the two to identify any discrepancies and make adjustments as necessary to ensure they match.

The Process of Verifying That the Amounts on the Bank