Question
What is reconciliation in terms of a bank statement?
The process of reaching agreement between two opposing parties.
Comparing a bank statement in your own records to ensure that balances are correct, and there have not been any errors or fraud.
A process that is internal to the bank that cannot be done without access to internal bank records.
There is no such thing.
The process of reaching agreement between two opposing parties.
Comparing a bank statement in your own records to ensure that balances are correct, and there have not been any errors or fraud.
A process that is internal to the bank that cannot be done without access to internal bank records.
There is no such thing.
Answers
GPT 3.5
The correct answer is: Comparing a bank statement to your own records to ensure that balances are correct, and there have not been any errors or fraud.