Which are valid reasons for preparing bank reconciliations in the UK
Which are valid reasons for preparing bank reconciliations in the UK?
A. Identify errors in the cash book
B. Detect bank errors
C. Match cash book balance with bank statement balance
D. Calculate sales tax liabilities
Answer: ABC
Explanation: Bank reconciliations resolve differences between the cash book and bank statement, find errors and ensure cash records are accurate. They do not calculate VAT.
