Which one of the statements appearing below is correct regarding bank reconciliations?

a) A bank reconciliation is an external report prepared to report the cash balance to investors and creditors.

b) After preparing a bank reconciliation, no journal entries need to be made for outstanding checks or deposits in transit.

c) If a company's records show a different cash balance from that shown on the company's bank statement, either the company or the bank has made an error.

d) The up-to-date ending cash balance on the bank statement side should not equal the up-to-date ending cash balance on the book side.