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Bank Reconciliation Statement(BRS)

State the nee...

Question

State the need for the preparation of bank reconciliation statement?

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Solution

It is generally experienced that when a comparison is made between the bank balances as shown in the firm's cash book an bank balances as shown in the firm's pass book, the two balances do not tally. To reconcile (tally) the two balances of cash book and pass book, bank reconciliation statement is prepared.

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State the need for the preparation of bank reconciliation statement?

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Bank Reconciliation Statement(BRS)

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