Economics · Bank Reconciliation Statement
With respect to a Bank Reconciliation Statement (BRS), which of the following statements is correct?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1A bank overdraft as per the cash book means a debit balance.
- 2The Reserve Bank of India prepares bank reconciliation statements for individual traders.
- 3A cheque deposited and cleared on the same date will not cause a difference between the bank balance reported by the bank and the cash book balance.✓
- 4A trial balance document is required for preparing a bank reconciliation statement.
Correct answer
A cheque deposited and cleared on the same date will not cause a difference between the bank balance reported by the bank and the cash book balance.
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