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what do you understand by BRS? why is the reconciliation done?
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Answer / deepa
bank reconciliation statement ,it is mainly used for reconcile the difference b/w cash book and bank passbook.
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BRS is the different between balance as bank statements and books of aacounts maintained by assessee.
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Answer / vignesh
BRS is a verification accounting to avoid risk on banking
transaction
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goods lost by fire rs10000 & insurance claim received for the same rs8000.what are the effect of this entry in final accounts?
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