U Question 11 1 pts A bank statement is a report that is prepared for the purpose of bringing the balances of cash per books and per bank statement into agreement. More specifically, this is prepared to provide information for reconciling journal entries True False D Question 12 1 pts Stale checks (checks that remain outstanding for a relatively long period of time) are reverted back to cash, meaning they are added back to the cash balance per books, and are excluded from outstanding checks. True O False D Question 13 1 pts Adjusting (reconciling) entries are made only for book reconciling items (eg credit memo, debit memo and book errors). No adjusting (reconciling) entries are needed for bank reconciling items in the entity's books, True False Question 14 1 pts Doubtful accounts are recognized when the loss is probable and the amount can be estimated reliably True False