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marishachu [46]
3 years ago
6

A bank reconciliation:Group of answer choicesis a formal financial statementboth A and B are correctis part of a sound internal

control systemshould not be prepared by an employee who handles cash transactions
Business
1 answer:
Anna [14]3 years ago
3 0

The Correct question reads;

Which of the following statements about bank reconciliations is correct?

a. Should not be prepared by an employee who handles cash transactions

b. Is part of a sound internal control system

c. Is a formal financial statement

d. Both (a) and (b) are correct

Answer:

<u>a. Should not be prepared by an employee who handles cash transactions</u>

<u>Explanation:</u>

It is only a bank that prepares a bank reconciliation statement. So, it is correct to say that a bank reconciliation statement should not be prepared by an employee who handles cash transactions.

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