Asked by Tristan Zuidema on May 21, 2024
Verified
To reconcile a check register means to match all the entries in the register with the statement received from the bank and correct any discrepancies.
Check Register
A record of all transactions in a checking account, including checks written, deposits made, fees paid, ATM withdrawals, and so on.
Bank Statement
A statement that includes all transactions that have occurred for a period of approximately one month.
Discrepancies
Differences or inconsistencies found within related facts, figures, or statements, often requiring further investigation or adjustment.
- Understand the process and importance of reconciling a checkbook with a bank statement.
Verified Answer
AM
Ahmed MagedMay 25, 2024
Final Answer :
True
Explanation :
Reconciling a check register involves comparing the entries in the register with the statement from the bank to ensure they match and correcting any errors or discrepancies.
Learning Objectives
- Understand the process and importance of reconciling a checkbook with a bank statement.