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What Do You Mean By Bank Reconciliation Statement? |
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Answer» A Bank reconciliation is a PROCESS that EXPLAINS the DIFFERENCE between the bank balance shown in an organization's bank statement, as supplied by the bank, and the corresponding amount shown in the organization's own [accounting] records at a PARTICULAR POINT of time. A Bank reconciliation is a process that explains the difference between the bank balance shown in an organization's bank statement, as supplied by the bank, and the corresponding amount shown in the organization's own [accounting] records at a particular point of time. |
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