Which of the following is not the salient feature of bank reconciliation statement?
A. Any undue delay in the clearance of cheques will be shown up by the reconciliation
B. Reconciliation statement will discourage the accountant of the bank from embezzlement
C. It helps in finding the actual position of the bank balance
D. Reconciliation statement is prepared only at the end of the accounting period
Answer:D
Which of the following is not the salient feature of bank reconciliation statement?
A. Any undue delay in the clearance of cheques will be shown up by the reconciliation B. Reconciliation statement will discourage the accountant of the bank from embezzlement C. It helps in finding the actual position of the bank balance D. Reconciliation statement is prepared only at the end of the accounting period