Accounting · Bank Reconciliation Statement
Which of the following statements regarding the Bank Reconciliation Statement (BRS) is correct?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1When the amount deposited by the customer exceeds withdrawals, it indicates a bank overdraft.
- 2At the end of each day, the bank compulsorily prepares the Bank Reconciliation Statement for every trader.
- 3A Bank Reconciliation Statement is prepared with the help of the Bank Passbook and the Bank column of the Cashbook.✓
- 4The Bank Passbook always shows a credit balance regardless of overdraft conditions.
Correct answer
A Bank Reconciliation Statement is prepared with the help of the Bank Passbook and the Bank column of the Cashbook.
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