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What is the primary purpose of reconciling financial accounts?
  • a)
    To identify unauthorized transactions
  • b)
    To calculate interest on savings accounts
  • c)
    To avoid overdraft fees
  • d)
    To increase credit card limits
Correct answer is option 'C'. Can you explain this answer?
Most Upvoted Answer
What is the primary purpose of reconciling financial accounts?a)To ide...
The primary purpose of reconciling financial accounts is to avoid overdraft fees and ensure that your account records match the statements provided by financial institutions. It also helps in identifying unauthorized transactions and errors in your accounts.
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What is the primary purpose of reconciling financial accounts?a)To identify unauthorized transactionsb)To calculate interest on savings accountsc)To avoid overdraft feesd)To increase credit card limitsCorrect answer is option 'C'. Can you explain this answer?
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What is the primary purpose of reconciling financial accounts?a)To identify unauthorized transactionsb)To calculate interest on savings accountsc)To avoid overdraft feesd)To increase credit card limitsCorrect answer is option 'C'. Can you explain this answer? for B Com 2024 is part of B Com preparation. The Question and answers have been prepared according to the B Com exam syllabus. Information about What is the primary purpose of reconciling financial accounts?a)To identify unauthorized transactionsb)To calculate interest on savings accountsc)To avoid overdraft feesd)To increase credit card limitsCorrect answer is option 'C'. Can you explain this answer? covers all topics & solutions for B Com 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for What is the primary purpose of reconciling financial accounts?a)To identify unauthorized transactionsb)To calculate interest on savings accountsc)To avoid overdraft feesd)To increase credit card limitsCorrect answer is option 'C'. Can you explain this answer?.
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