State with reasons, whether the following statements are true or false: Bank reconciliation statement is prepared to arrive at the bank balance.
CA Foundation · Accounting · RTP · September 2024
State with reasons, whether the following statements are true or false: Bank reconciliation statement is prepared to arrive at the bank balance.
Suggested Answer and Working Notes:
False: Bank reconciliation statement is prepared to reconcile and explain the causes of differences between bank balance as per cash book and the same as per bank statement as on a particular date.
Topics: Bank Reconciliation Statement, Accounting Process, Subsidiary Books
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