Reasons for preparing a bank reconciliation statement as an internal control process
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Answer:
BRS is prepared so that we can match balance of our cash book and the passbook.
Explanation:
many times some transactions are not recorded or lately recorded because of timely gap.........so BRS is prepared
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The major reason for preparing a bank reconciliation statement as an internal control process because it deals with the banks transactions that are associated with a particular bank account.
Explanation:
- The reconciliation statement will give the accurate information on the banks transactions which are done with a person's bank account.
- These statements helps the bankers to easily look into the accounts and can offer him the financial services.
- In addition to this, the reflection of these activities on the bank account can be determined with this statement.
To know more:
1) What is bank reconciliation statement
https://brainly.in/question/8484227.
2) What is a bank? function of bank
https://brainly.in/question/2841138
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