Which of the following best describes "bank reconciliation"?

A. The process of comparing and adjusting the bank statement with the company’s accounting records
B. The process of transferring money between accounts
C. The process of applying for a loan
D. The process of depositing checks in the bank

Explanation:

Bank reconciliation involves comparing the company’s records with the bank’s statement to ensure consistency and accuracy in financial transactions.

Tags: State Bank Exams MCQ, Other Government