Question

Bank reconciliation statement is prepared on________________.

• A. yearly basis from Jan to December
• B. certain period basis
• C. as on particular date
• D. both a & b

Answer 1

The correct option is D both a & b

Bank reconciliation statement is a statement prepared by the business to reconcile the differences between the balances as per cash book and pass book on periodic basis. Generally it is done on monthly basis when the business receives the bank statement. It may also be prepared on yearly basis from January to December or some other certain period basis.