Question

PLEASE HELP AND QUICKLY!! Why is doing timely reconciliations a key part of internal control activities

A. Checks usually expire after two weeks
B. It is part of the Sarbanes-Oxley legislation
C. It is much easier to correct mistakes if they are caught early
D. It ensures accounts filed with the government are accurate

Answer 1

D and

Definition:

Reconciliation is the process of comparing transactions and activity to supporting documentation. Further, reconciliation involves resolving any discrepancies that may have been discovered.

Purpose:

The process of reconciliation ensures the accuracy and validity of financial information. Also, a proper reconciliation process ensures that unauthorized changes have not occurred to transactions during processing

Answer 2

Answer: c

Explanation:

just got the answer wrong because of the other “answer” on this question