If the balance on the bank statement does not equal the balance per the company's records,then it can be assumed that: A)The company has no errors in its records concerning the cash account. B)The bank has made errors in preparing the bank statement. C)The company has made errors in its records concerning the cash account. D)There will be items reconciling the difference.

Question

Quizplus · Accepted Answer

There will be items reconciling the difference, such as outstanding checks or deposits in transit, which are common reasons for discrepancies between the bank statement and the company's records.

If the Balance on the Bank Statement Does not Equal