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what do you mean by Bank reconcilation statement

Answer Posted / viswanath

It is a reconciliation statement which explains the
differences betweeen closing balances of Bank Statement
(Pass Book) and Cash Book on a particular date or end of
the month.

BRS is a control tool where accountant find out not only
the differences but also have the following uses:

1. To avoid duplication of entries.
2. To know the un accounted income or expenditure.

Is This Answer Correct ?    39 Yes 8 No



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