When You Receive a Monthly Statement from the Practice's Bank

Multiple Choice

When you receive a monthly statement from the practice's bank, you should first

A) initial and file the statement with other financial records.
B) reconcile the bank statement with the practice's own checkbook balances and contact the bank if you notice any discrepancies.
C) note when the account was opened and compare this date to the date listed in your records.
D) review the caption for the total value of checks processed, the total amount of deposits made, the account's beginning and
Ending balance, and that month's closing date.
E) reconcile the bank statement with the practice's own check balances and contact the bank if you notice any discrepancies,
AND review the caption for the total value of checks processed, the total amount of deposits made, the account's beginning
And ending balance, and that month's closing date.