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9966 [12]
3 years ago
7

What is the major purpose of a bank reconciliation statement?

Business
1 answer:
lara31 [8.8K]3 years ago
3 0
Purpose of a bank reconciliation statement.
A bank reconciliation statement is used to compare your record to those of your bank to see if there is difference between the two sets of records. The ending balance of your version of cash records is known as the book balance while the bank`s version is known as bank balance. It is common for there to be a difference in the two balances. The results to the differences might be due to overdrawn bank account, bounced checks and overdraft fees. It is important for you to check the difference because there might be substantial variance between the amount you think you have and that the bank thinks you have. In some cases the bank may even elect to close down your account. 
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3 years ago
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8 0
3 years ago
Which of the following falls outside of the classification of business expenditures that fall into the category of variable cost
yuradex [85]

The option that falls outside of the classification of business expenditures that fall into the category of variable costs is option C. costs of research and development. Read below about costs of research and development.

<h3>What is a costs of research and development?</h3>

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Therefore, the correct answer is as given above.

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4 0
1 year ago
The focus vision area has ...........degrees of information.
tekilochka [14]
5-10 degrees

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4 0
3 years ago
Assuming a 360-day year, when a $20,000, 90-day, 5% interest-bearing note payable matures, total payment will be
solong [7]

Answer:

total payment will be $21,000.

Explanation:

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<u>Total Payment Calculation :</u>

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7 0
3 years ago
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