What causes the balance on the bank statement to differ from the cash balance in the general ledger?
A)Time lags only.
B)Errors by the bank only.
C)Errors by the company only.
D)Time lags, and errors by the bank or company.

Question

Quizplus · Accepted Answer

The balance on the bank statement can differ from the cash balance in the general ledger due to time lags in recording transactions and errors made either by the bank or the company.

What Causes the Balance on the Bank Statement to Differ