A bank reconciliation explains the difference between the balance of a chequing account on the customer's books and the balance on the bank statement.

Question

Quizplus · Accepted Answer

This is a correct statement. A bank reconciliation compares the customer's record of transactions with the bank's record of the same transactions to identify any discrepancies between the two balances.

A Bank Reconciliation Explains the Difference Between the Balance of a Chequing