Table of contents

1. Introduction to Accounting1h 21m
2. Transaction Analysis1h 13m
3. Accrual Accounting Concepts2h 38m
4. Merchandising Operations2h 30m
5. Inventory1h 55m
6. Internal Controls and Reporting Cash1h 16m
7. Receivables and Investments3h 8m
8. Long Lived Assets5h 1m
9. Current Liabilities2h 19m
10. Time Value of Money1h 23m
- Time Value of Money Equations
  35m
- Using Time Value of Money Tables
  47m
11. Long Term Liabilities2h 45m
12. Stockholders' Equity2h 15m
13. Statement of Cash Flows2h 24m
14. Financial Statement Analysis5h 25m
15. GAAP vs IFRS56m

6. Internal Controls and Reporting Cash

Bank Reconciliation

Financial Accounting

6. Internal Controls and Reporting Cash

Bank Reconciliation

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Multiple Choice

Verifying your bank's online account statements for accuracy is called ____________.

bank capitalization

bank transfer

bank reconciliation

bank endorsement

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Verified step by step guidance

Understand the concept of 'bank reconciliation': It is the process of comparing the bank's records (online account statements) with your own financial records to ensure accuracy and identify discrepancies.

Recognize that 'bank capitalization' refers to the financial structure of a bank and is unrelated to verifying account statements.

Understand that 'bank transfer' involves moving funds between accounts and does not pertain to verifying account statements.

Learn that 'bank endorsement' refers to signing a check to authorize its transfer or deposit, which is also unrelated to verifying account statements.

Conclude that the correct term for verifying your bank's online account statements for accuracy is 'bank reconciliation'.