Question on: SS1 Accounting - Adjustments of Cash Books
What is the first step in making adjustments to the cash book due to the introduction of a bank statement?
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A
Compare the transactions recorded in the cash book with the transactions recorded in the bank statement
B
Reconcile the cash book balance with the bank statement balance
C
Adjust the cash book to reflect any errors or discrepancies
D
Update the bank statement to include any missing transactions
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Correct Option: A
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