When preparing the bank reconciliation,if the adjusted book balance and the adjusted bank balance disagree,this may indicate:
A)a math error made in preparing the bank reconciliation.
B)a book error went undetected.
C)fraudulent financial reporting.
D)A and B.

Question

Quizplus · Accepted Answer

If the adjusted book balance and the adjusted bank balance disagree, it could be due to a math error made in preparing the bank reconciliation or a book error that went undetected. It is unlikely to be related to fraudulent financial reporting, as this would involve intentional and deceptive actions. Therefore, both choices A and B are plausible explanations.

When Preparing the Bank Reconciliation,if the Adjusted Book Balance and the Adjusted