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What is the Purpose of Preparing Bank Reconciliation
Statement?
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Answer Posted / h.r. sreepada bhagi
To match all the entries made in the books account and to
ensure that no payment or receipt appearing in the bank
statement has escaped accounting.
In other words it's done to ensure that all entries in the
bank statements are accounted also that there will be no
scope of cheque bouncing for want of funds and effective
utilisation of money in the account.
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