Which of the following could be described as follows? A comparison of the company bank statement balance to the balance in the company's general ledger cash account and a determination as to why differences between the company's books and the bank statement balance exists.
A) balancing the books
B) the adjustment process
C) bank Reconciliation
D) maintenance of an imprest fund

Question

Quizplus · Accepted Answer

Bank reconciliation is the process of comparing the company's bank statement balance to the balance in the company's general ledger cash account and identifying reasons for any discrepancies.

Which of the Following Could Be Described as Follows? a Comparison