Question 1
Which of the following statements is true about reconciliation?
ANSWER
Reconciliation is a process of comparing financial records to bank statements and other
source documents to ensure accuracy and balance
Question 2
Which of the following accounts are bookkeepers typically responsible for reconciling
monthly?
ANSWER
Cash accounts, credit card accounts, and loan accounts
Question 3
Which of the following are used as reconciliation source documents?
ANSWER
Receipt. Check. Invoice.
Question 4
You're a bookkeeper for a small retail store. You are reconciling the case register for the
month of October. You have the following documents available:
-Bank statement showing deposits and withdrawals for October
1
, -Cash register report showing cash sales and payments for October
-Deposit slips for each day of October
-Receipts for each cash sale and payment in October
Question: Which document would you use to match the cash sales in the cash register
report with the deposits in the bank statement?
ANSWER✅
Deposit slips
Question 5
reconciliation process step one
ANSWER
Gather source documents
Question 6
reconciliation process step two
ANSWER
Compare account transactions with source documents
Question 7
reconciliation process step three
ANSWER
Make any adjustments needed and complete the reconciliation
Question 8
2
Which of the following statements is true about reconciliation?
ANSWER
Reconciliation is a process of comparing financial records to bank statements and other
source documents to ensure accuracy and balance
Question 2
Which of the following accounts are bookkeepers typically responsible for reconciling
monthly?
ANSWER
Cash accounts, credit card accounts, and loan accounts
Question 3
Which of the following are used as reconciliation source documents?
ANSWER
Receipt. Check. Invoice.
Question 4
You're a bookkeeper for a small retail store. You are reconciling the case register for the
month of October. You have the following documents available:
-Bank statement showing deposits and withdrawals for October
1
, -Cash register report showing cash sales and payments for October
-Deposit slips for each day of October
-Receipts for each cash sale and payment in October
Question: Which document would you use to match the cash sales in the cash register
report with the deposits in the bank statement?
ANSWER✅
Deposit slips
Question 5
reconciliation process step one
ANSWER
Gather source documents
Question 6
reconciliation process step two
ANSWER
Compare account transactions with source documents
Question 7
reconciliation process step three
ANSWER
Make any adjustments needed and complete the reconciliation
Question 8
2
