A ________ is a document explaining the reasons for the difference between a depositor's cash records and the depositor's cash balance in its ledger.
A) bank statement
B) deposit receipt
C) bank reconciliation
D) remittance advice

Question

Quizplus · Accepted Answer

A bank reconciliation is a document that explains the reasons for the difference between a depositor's cash records and the depositor's cash balance in its ledger. A bank statement is a document provided by the bank which lists all transactions and balances for the account. A deposit receipt is a document provided by the bank to acknowledge that a deposit has been made. A remittance advice is a document sent by a customer to a supplier, notifying them that a payment has been made.

A ________ Is a Document Explaining the Reasons for the Difference