Why does the client prepare independent bank reconciliation?
A)To check for the completeness, existence, and valuation of cash balances
B)To check accounts payable
C)To record purchase returns and allowances
D)To validate purchase returns

Question

Quizplus · Accepted Answer

The client prepares independent bank reconciliation to check for the completeness, existence, and valuation of cash balances. This ensures that the cash account in the company's books matches the bank statement and that all transactions are properly recorded.

Why Does the Client Prepare Independent Bank Reconciliation