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Elroy has decided that it may not be necessary to prepare a bank reconciliation for his company. He regularly reviews his online bank statement for

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Elroy has decided that it may not be necessary to prepare a bank reconciliation for his company. He regularly reviews his online bank statement for any unusual items and feels that is sufficient. 1. Describe how a bank reconciliation and an online review of the bank statement differ. 2. Identify and explain at least two frauds or errors that may be uncovered through a bank reconciliation, and how they would not be uncovered through an online review the bank statement

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