For each of the statements below indicate whether it is true or false. For those statements indicated as "False" give a brief reason why it is "False". Q$1\mathrm{.}1$If all the necessary monthly procedures have been completed in the books of a business, the bank balance appearing in the trial balance should reflect the reconciled bank balance on which strategic decisions can be based. Q$1\mathrm{.}2$ The bank account in the business's general ledger has a debit balance of R$26950$ at $31$ May $2024$ while the May $2024$ bank statement shows a closing credit balance of R$22700.$ The bookkeeper identified two differences between the balances. These are an outstanding deposit made on $30$ May $2024$ for R$2500$ not yet recorded by the bank and stop orders totalling R$1750$ not yet recorded by the business. The bank balance in the final trial balance will be shown as R$23450($debit$).$ Q$1\mathrm{.}3$ A direct deposit by the debtor not yet recorded in the cash journals is an example of a timing difference. Q$1\mathrm{.}4$ Interest earned on a favourable bank account balance is an example of an adjusting difference in the cash book receipts journal.