Question: Which statement is wrong? 1. A reconciliation account gives additional information about the total of subordinated accounts. 2. A reconciliation account is recorded to transfer

Which statement is wrong?

1. A reconciliation account gives additional information about the total of subordinated accounts.

2. A reconciliation account is recorded to transfer figures to the balance sheet.

3. A reconciliation account is a summary account.

4. A reconciliation account represents the total of the subordinated accounts’

balancing figures.

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