6. Internal Controls and Reporting Cash

Given the following information to reconcile Branch Company's bank account, which of the following items should be added to the company's book balance during the bank reconciliation process?

What is the primary purpose of a bank reconciliation?

Which of the following is the most effective way to reconcile your bank account to ensure you do not spend more than you have?

When confirming accounts payable during a bank reconciliation, which of the following procedures is most appropriate?

Which of the following is most likely to cause a bank statement not to agree with the cash balance in the accounting records?

In the context of bank reconciliation, which of the following accounts does NOT appear on the balance sheet?

In the context of bank reconciliation, in which account would you expect to see payments received but not yet deposited?

A bank reconciliation has a primary purpose of:

Which of the following is an effective way to address concerns about discrepancies in your checking account balance?

Which of the following statements about bank reconciliation is correct?

A cash register that typically holds about $150 currently has $500 in it. What would be the most appropriate action to take?

What is the typical result when John overdraws his checking account during the bank reconciliation process?

Which of the following is a common way to access money in a checking account?

How many steps are typically involved in the process of bank statement reconciliation as described in standard accounting procedures?

Which statement is true when an account is disconnected from the bank feed in QuickBooks Online?