Question

Which of the following is NOT a reason to reconcile a checking account when the account statement comes?
A. Reconciling the account ensures there is a good record of how much money is there.
B. Reconciling the account helps keep track of any fees the bank might be charging.
C. Banks require all customers to reconcile their accounts and confirm the account statement is correct.
D. Sometimes banks make mistakes. By reconciling the account, errors can be caught.

Answer 1

The correct answer to this question is letter "C. Banks require all customers to reconcile their accounts and confirm the account statement is correct." The statement that is NOT a reason to reconcile a checking account when the account statement comes is that banks require all customers to reconcile their accounts and confirm the account statement is correct.

Answer 2

Correct answer is B.

It is required by the bank that all customers reconcile their account statements and check register.

While reconciling the account is not required by banks, it will help in keeping track of how much money is in the account. It also will help with catching errors in either the check register or the bank statement, and will help keep track of fees the bank is charging.