Question

The correct order in which the steps in the bank reconciliation process occur is: 1. Tick off the items in the prior reconciliation with the bank statement 2. Prepare the bank reconciliation 3. Tick off the cash journals with the bank statement 4. Update the cash journals with unticked items from the bank statement Select one: O a. 1,4,3,2 O b. 1, 2, 3, 4 O c. 1, 3, 4,2 O d. 4, 3, 2, 1

Answer 1

The correct order in which the steps in teh bank reconciliation process occur is :-

Option C - 1,3,4,2. As this process mentions, out of the steps mentioned above, initially The items from the prior reconciliation is ticked off with the bank statement. Next, the cash journales are ticked with the bank statement following which cash journals with unticked items are updated from the bank statement. Finally, the Bank reconciliation is prepared. As such, this is the correct answer.

Option A is incorrect. This step incorrectly mentions procedure 4 ahead of Procedure 3. This is incorrect.

Option B & Option D are correct as the procedures are placed incorrectly and in the wrong order.

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