Question

Making sure the check register and bank statement agree Is called "reconciling" the statement.

A.True

B.False

Answer 1

I believe the answer is True.

Answer 2

True

Explanation:

A bank reconciliation is the process of matching the balances in a firm's cash book to the corresponding information on a bank statement. This is done at regular intervals periodically.

The objective of this process is to ascertain the differences between the two, and to book changes to the accounting records as appropriate.

The differences are mainly due to interest debit or credits by banks not recorded in cash book, cheques deposited but not cleared, cheques issued but not presented, etc

Hence the given statement is true