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Question

A Bank Reconciliation Statement is prepared by ______.

A
Bank
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B
Creditors
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C
Debtors
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D
Business Firm
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Solution

The correct option is D Business Firm
A bank reconciliation statement is a reconciliation statement between the balances of cash book (bank column) and pass book (bank statement). It is prepared by the business firm to identify and adjust the causes of differences between the two balances.

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