11. All bank memorandums reported on the bank reconciliation require entries in the depositor's accounts. a. True b. False 12. The bank reconciliation is an important part of the system of internal control.. a. True b. False 13. The main reason that the bank statement cash balance and the depositor's cash balance do not initially balance is due to timing differences. a. True b. False 14. The bank reconciles its statements to the depositor's records. a. True b. False 15. In preparing a bank reconciliation, the amount of an error indicating the recording of a check in the journal for an amount larger than the amount of the is added to the balance per depositor's records. a. True b. False 16. In preparing a bank reconciliation, the amount indicated by a credit memorandum for a note receivable collected by the bank is added to the balance per depositor's records ledger. a. True b. False 17. A check outstanding for two consecutive months will appear only on the first month's ban reconciliation. a. True b. False 18. After a bank reconciliation is completed, adjusting entries are prepared for items in the balance per depositor's records as well as items in the balance sheet. a. True b. False