Explain the purpose of reconciling a bank statement.
Explanation should include
- comparing the opening balance on a new statement with the closing balance on a previous statement
- ensuring the accuracy of deposits, charges, and receipts.
- How should a situation where opening balances and closing balances do not agree be handled?
- How often should a bank statement be reconciled?
Related Standards of Learning
The student will read, interpret, analyze, and evaluate a variety of nonfiction texts including employment documents and technical writing.
- Apply information from texts to clarify understanding of concepts.
- Read and correctly interpret an application for employment, workplace documents, or an application for college admission.
- Analyze technical writing for clarity.
- Paraphrase and synthesize ideas within and between texts.
- Draw conclusions and make inferences on explicit and implied information using textual support.
- Analyze multiple texts addressing the same topic to determine how authors reach similar or different conclusions.
- Analyze false premises, claims, counterclaims, and other evidence in persuasive writing.
- Recognize and analyze use of ambiguity, contradiction, paradox, irony, sarcasm, overstatement, and understatement in text.
- Generate and respond logically to literal, inferential, evaluative, synthesizing, and critical thinking questions about the text(s).