Question

A bank ______ is an internal report used to compare the bank statement with the company's cash records and should be prepared by an employee whose duties are separate from recording and handling of cash.

a) Reconciliation
b) Voucher
c) Ledger
d) Statement

Answer 1

A bank reconciliation is an internal report used to compare the bank statement with the company's cash records.

Step-by-step explanation:

A bank reconciliation is an internal report used to compare the bank statement with the company's cash records. It is prepared by an employee whose duties are separate from recording and handling of cash.