Why does a company reconcile its bank statement?
a) to turn up discrepancies between its records and the banks records
b) FASB requires it
c) accountants have nothing better to do
d) to audit the banks maintenance of the company's account
Answer: A
Why does a company reconcile its bank statement?
a) to turn up discrepancies between its records and the banks records
b) FASB requires it
c) accountants have nothing better to do
d) to audit the banks maintenance of the company's account
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