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  • Bank Reconciliation Questions Key

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    36 views2 pages

    Bank Reconciliation Questions Key

    Uploaded by

    api-173610472

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as DOC, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    of 2

    Bank Reconciliation Questions 1. What does reconciliation or reconcile mean?

    2. What does outstanding mean?

    3. What does transit mean?

    4. Why could the bank statement and your checkbook balance not agree?

    5. What could be missing from your checkbook? (interest income bank charges !"# $ithdra$als%

    &. What could be missing from your bank statement? ('e(osits in "ransit )utstanding checks%

    *. What ty(es of mistakes could the bank make $hen (re(aring your bank statement?

    +. What ty(es of mistakes could you make in your checkbook register?

    ,. Why is im(ortant to check your bank statement and your checkbook register?

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