Question
Which of these statements is the most correct? In the bank reconciliation, the difference between the balance on the entity's bank statement and the balance
Which of these statements is the most correct? In the bank reconciliation,
the difference between the balance on the entity's bank statement and the balance recorded in the entity's records will be due to outstanding cheques and bank charges.
the difference between the balance on the entity's bank statement with the balance recorded in the entity's records will be due to deposits in transit and outstanding cheques.
the difference (if any) between the balance on the entity's bank statement with the balance recorded in the entity's records will be due to deposits in transit, outstanding cheques, and direct debits and credits on the bank statement.
the difference (if any) between the balance on the entity's bank statement with the balance recorded in the entity's records will be due to bank charges and direct debits and credits on the bank statement.
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Management Accounting
Authors: Kim Langfield Smith, Helen Thorne, David Alan Smith, Ronald W. Hilton
7th Edition
978-1760421144, 1760421146
