Question 18 of 20 Which statement about reconciling banking records is false? A. Reconciling your bank statement will help you track your spending. B. Reconciling your bank statement will help you identify bank errors. C. Reconciling your bank statement will help you identify fraud. D. Reconciling your bank statement will help you reduce your expenses. SUBMIT

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25-05-2022
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Question 18 of 20 Which statement about reconciling banking records is false? A. Reconciling your bank statement will help you track your spending. B. Reconciling your bank statement will help you identify bank errors. C. Reconciling your bank statement will help you identify fraud. D. Reconciling your bank statement will help you reduce your expenses. SUBMIT

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jayilych4real jayilych4real · Answer 1 · 2022-06-06T13:38:19+02:00

The statement about reconciling banking records that is false is option B. Reconciling your bank statement will help you identify bank errors.

What is a Banking Record?

This refers to the financial transactions that are done in and by a bank that shows the inflows and outflows for a particular time period.

Hence, we can see that from the answer choices, we can see that when a bank account is reconciled, it is done to show the financial transactions done by a customer and while this can help track spending, it cannot help identify bank errors.

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