Home » mcq » accounting » Bank Reconciliation statement is prepared by A. Accountant of business B. Manager of business C. Controller of business D. Accountant of the bank
Accountant of business
Manager of business
Controller of business
Accountant of the bank
Answer is Wrong!
Answer is Right!
The correct answer is: A. Accountant of business.
A bank reconciliation statement is a document that compares the bank statement of a business with the business’s own records of cash receipts and cash payments. The purpose of a bank reconciliation is to identify any differences between the two records and to explain them.
The accountant of the business is responsible for preparing the bank reconciliation statement. The accountant will review the bank
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statement and the business’s cash records to identify any differences. The accountant will then explain the differences and make any necessary adjustments to the business’s records.
The manager of the business may also review the bank reconciliation statement. However, the accountant is responsible for preparing the statement and explaining any differences.
The controller of the business is not typically involved in preparing the bank reconciliation statement. The controller is responsible for overseeing the financial reporting of the business. However, the controller may review the bank reconciliation statement as part of their oversight responsibilities.
The accountant of the bank is not responsible for preparing the bank reconciliation statement for the business. The accountant of the bank is responsible for maintaining the bank’s records. However, the accountant of the bank may be able to provide assistance to the business’s accountant if there are any questions about the bank statement.