What is a bank reconciliation? And why do we have to prepare it? How often do you think a bank reconciliation should be prepared (daily, weekly, monthly, annually), and why? When do you think outstanding items are cleared/removed from the bank reconciliation? Do you think that small businesses and big businesses are similarly in need to always prepare a bank reconciliation? Explain. Do you think that all types of businesses (service, merchandising, manufacturing) are similarly in need to prepare a bank reconciliation? Explain and give examples