Accounting · Bank Reconciliation Statement
What is the primary objective of preparing a Bank Reconciliation Statement?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1To verify the total cash sales generated during a financial period
- 2To reconcile the difference between the bank balance as per the cash book and the balance as per the passbook✓
- 3To update the bank passbook balances automatically
- 4To match the cash column of the cash book with the bank column
Correct answer
To reconcile the difference between the bank balance as per the cash book and the balance as per the passbook
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