Differences between the amount of cash reported on a companys bank statement and the balance in the
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Question:
Differences between the amount of cash reported on a company’s bank statement and the balance in the company’s Cash account before the bank reconciliation are primarily due to:
a. Differences between the cash basis and accrual basis of accounting.
b. The timing difference in recording transactions.
c. Errors made by the bank.
d. Errors in the accounting process by the company.
Expert Answer:
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