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galina1969 [7]
2 years ago
8

Suppose there were several large outstanding checks on the year-end bank reconciliation that did not clear the bank by the cutof

f date. Discuss the possible cause(s) of this, and discuss the nature of the potential misstatement(s) that could result.
Business
1 answer:
BigorU [14]2 years ago
4 0

Insufficient funds and irregular signatures are reasons why a cheque may not be cleared in time.

<h3>What is a Cheque?</h3>

This can be defined as a written, dated, and signed instrument which directs a bank to pay a specific sum of money to the bearer.

Insufficient funds and irregular signatures may delay the clearing of cheque which is a result of human error and could lead to returning it.

Read more about Cheque here brainly.com/question/24555580

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