Question

Bank reconciliation statement is prepared by _________.

• A. accountant of the business
• B. manager of the business
• C. controller of the bank
• D. accountant of the bank

Answer 1

Answer: (A)

accountant of the business

A bank reconciliation statement is prepared to reconcile the balnaces as per cash book (bank column) with the balances as per pass book (bank statement).

It is done by the accountant of the business as it is the business which needs to find the causes of differences between the two balances in order to present a true and fair view of it's financial statements and books of accounts to it's various stakeholders.