BUSINESS ADMINISTRATION
BUSINESS MATHEMATICS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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this happens when you fill out your check register.
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At the end of the month you check to see if your check register matches your bank statement.
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This happens when you go to the bank and deposit money
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This happens each time you write a check.
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Detailed explanation-1: -Checkbooks are where we get the phrase “balancing a checkbook.” It’s also called reconciling an account. Basically, it just means you’re making sure the records you’ve kept for all your spending and income match what the bank says on your physical or online statement.
Detailed explanation-2: -Bank reconciliation is a way to double-check your bookkeeping. You do it by comparing your business accounts against your bank statements. Both sets of records should agree with each other.
Detailed explanation-3: -Reconciling your bank statement involves comparing your business transactions and balances with the bank’s transactions and balances. Reconciling your bank statement enables you to see if there are any irregularities, such as entering wrong amounts, duplicating entries and other data entry errors.