An analysis that explains any differences between the checking account balance according to the depositor’s records and the balance reported on the bank statement is a(n): Internal audit Bank reconciliation Bank audit Trial reconciliation Analysis of debits and credits

Finance Mar 25, 2021

An analysis that explains any differences between the checking account balance according to the depositor’s records and the balance reported on the bank statement is a(n):

1. Internal audit
2. Bank reconciliation
3. Bank audit
4. Trial reconciliation
5. Analysis of debits and credits

Expert Solution

Answer:

b .

Step-by-Step explanation

The analysis in which the balance of bank account in the books of the company is matched with the corresponding account in the statement from bank is termed as bank reconciliation.

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