State whether the following statement is True or False.
Bank reconciliation statement is generally prepared at the end of the year.

True

No worries! We‘ve got your back. Try BYJU‘S free classes today!

False

Right on! Give the BNAT exam to get a 100% scholarship for BYJUS courses

Open in App

Solution

The correct option is B False
False. Bank reconciliation statement is prepared periodically. It is generally prepared when the bank statement is received by the business which happens at the end of every month. So, bank reconciliation statement is prepared at the end of every month by the business.

Suggest Corrections

Similar questions

Q. State whether the following statement is True or False.
Bank Reconciliation Statement is prepared at the end of every month.

Q. State whether the following statement is True or False.
Bank Reconciliation Statement is prepared by the Bank.

State whether the following Statements are True or False.

1) Bank Reconciliation Statement is prepared by Bank.
2) Bank Reconciliation Statement is prepared at the end of stipulated period.
3) Overdraft facility is allowed to proprietors personal account
4) Debit balance of Pass Book represents overdraft
5) Credit balance of Bank column of Cash Book represents the balance as per Cash book.
6) Bank charges debited by Bank increases bank balance in the Pass Book.
7) Interest credited in Pass Book is an income to the Customer.
8) Bank Reconciliation Statement is prepared to detect the errors the takes place in accounting

Q. State whether the following statement is True or False.
Bank reconciliation statement is prepared by the Account holder.

Q. State whether the following statement is True or False.
Bank Reconciliation Statement is prepared to detect the errors that take place to accounting.

Join BYJU'S Learning Program

State whether the following statement is True or False.Bank reconciliation statement is generally prepared at the end of the year.

The correct option is B FalseFalse. Bank reconciliation statement is prepared periodically. It is generally prepared when the bank statement is received by the business which happens at the end of every month. So, bank reconciliation statement is prepared at the end of every month by the business.

State whether the following statement is True or False.
Bank reconciliation statement is generally prepared at the end of the year.

The correct option is B False
False. Bank reconciliation statement is prepared periodically. It is generally prepared when the bank statement is received by the business which happens at the end of every month. So, bank reconciliation statement is prepared at the end of every month by the business.