Thursday, February 27 2020, 22:44 pm
ACCOUNTING PAPER MEMORANDUM QUESTION 1

ACCOUNTING PAPER MEMORANDUM QUESTION 1

ACCOUNTING PAPER MEMORANDUM QUESTION 1 1.1 BANK RECONCILIATION 1.1.1 Any TWO points Possible answers: • For internal control purposes • To identify the correct bank balance/update records • Deposits made and cheques issued not only affect the business but also the bank concerned • The business keeps a record of all cash transactions • The bank also keeps a record of its transactions …