Section A: Theory of Financial Accounting

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Question 2

1. What is a Bank Reconciliation Statement?

 

(b)        State three reasons for preparing a bank reconciliation statement.

 

(c)        Explain the following terms:
(i)         Unpresented cheques;
(ii)        Standing order;
(iii)       Credit Transfer.