Which of the following is a benefit of internet banking?
A)The business can reduce its internal controls over cash receipts.
B)The bank reconciliation is not necessary.
C)The business can reconcile with the bank's balance at any time.
D)A company's book balance will always equal the bank's balance.

Question

Quizplus · Accepted Answer

Internet banking allows the business to reconcile with the bank's balance at any time, providing real-time access to account information and reducing the need for manual reconciliation. This can enable more efficient cash management and fewer errors or discrepancies. A and B are incorrect because internet banking does not reduce the need for internal controls or bank reconciliation. D is incorrect because there may be timing differences or errors that result in differences between the company's book balance and the bank's balance.

Which of the Following Is a Benefit of Internet Banking