CIA 594 2.42 Bank reconciliation

  • This topic has 2 replies, 2 voices, and was last updated 1 month, 1 week ago by RAVISANKAR NAYANAR.
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  • #234673
    RAVISANKAR NAYANAR
    Participant

    Question was;

    A good working paper for a bank reconciliation should include (either directly or through cross reference) all of the following except

    • A. A list of all deposits made during the period in question.
    • B. A list of outstanding checks.
    • C. A legend explaining all tick marks employed.
    • D. The cash balance per the general ledger as of the reconciliation date.

    Correct answer is A. Why was “D” not right?

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  • #234697
    Brian Hock
    HOCK international

    Hello, Ravisankar Nayanar,

    The question is asking for what is NOT included in the bank reconciliation. Choice D is something that is shown on the bank reconciliation. Choices B, C and D are all part of the bank reconciliation.

    Does this help explain it for you – that it is asking what is NOT part of the bank reconciliation?

    Brian

    #234715
    RAVISANKAR NAYANAR
    Participant

    Hi Brian,

    Yes, understood. “Except” questions are tricky 🙂

    Thanks

    Ravi

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