MENU
Which G/L account type must be set when working with the bank reconciliation ledger?
Suggested Answer: C
Get Premium C_S4FTR_2023 Questions
as Interactive Web-Based Practice Test or PDF
Real Exam Format
Detailed Explanations
Instant Access
Get Your Practice Test
The G/L account type that must be set when working with the bank reconciliation ledger is bank sub account. Bank sub account is a special type of G/L account that is used to record the bank statement items that are not yet reconciled with the accounting documents. It allows you to perform bank reconciliation at a more granular level and track the status of each bank statement item.
36 comments · newest first
CO
Corrie
10 months ago
Wait, are you all sure about this? Sounds a bit off.
MI
Mireya
11 months ago
Really? I thought any balance sheet account would work.
SH
Sharen
11 months ago
No way, it's D for sure!
JU
Judy
11 months ago
I thought it was A, the cash account?
DE
Denny
11 months ago
It's definitely D, the bank reconciliation account.
AN
Annamae
12 months ago
I’m leaning towards the bank sub account, but I remember there were nuances in the definitions that could trip me up.
LO
Long
12 months ago
I feel like balance sheet accounts were mentioned in the context of reconciliations, but I’m confused about how they apply specifically to this question.
JA
James
12 months ago
I remember discussing cash accounts in relation to bank reconciliations, but I can't recall if that's the right answer here.
PH
Phuong
1 year ago
I think it might be the bank reconciliation account, but I’m not entirely sure. We practiced something similar in class.
FA
Fanny
1 year ago
Okay, I've got this. The bank reconciliation process deals with the cash account, so the account type that must be set is a cash account. A is the right answer here.
AV
Avery
1 year ago
I'm a bit confused on this one. Is the bank reconciliation ledger a separate account, or is it just a process that involves multiple accounts? I'm not sure if the account type is the right focus here. Might need to revisit my notes on bank reconciliations.
ST
Stephania
1 year ago
The key here is that the question is asking about the account type, not the specific account. I'm guessing the correct answer is B, "balance sheet account," since the bank reconciliation would involve balance sheet accounts like cash.
TO
Torie
1 year ago
Hmm, I'm not totally sure about this one. I know the bank reconciliation is related to cash, but I'm not confident that the account type has to be specifically "cash account." Let me think this through a bit more.
VI
Vivan
1 year ago
This one seems straightforward - the bank reconciliation ledger would require a cash account type, so I'm going with option A.
VA
Vanesa
2 years ago
I'm feeling lucky, so I'll go with D. Bank reconciliation account. Gotta risk it for the biscuit!
MA
Maurine
2 years ago
I'm not sure, but I think it could also be D) Bank reconciliation account, as it specifically deals with reconciling bank statements.
AL
Aleta
2 years ago
Haha, cash account? Nice try, but that's way too obvious. I'm going with the balance sheet account.
BE
Bernadine
2 years ago
Yeah, cash account seems too straightforward.
AN
Anglea
2 years ago
I think it's the balance sheet account too.
QU
Quentin
2 years ago
I agree with Dante, because cash account is directly related to bank transactions.
ET
Ettie
2 years ago
I'd go with the bank reconciliation account. It's specifically designed for this purpose, right?
AD
Adaline
2 years ago
Definitely, it helps keep track of the differences between the bank statement and the company's records.
DI
Dion
2 years ago
I agree, it's specifically designed for reconciling bank transactions.
AL
Alesia
2 years ago
Yes, the bank reconciliation account is the correct choice.
GL
Glory
2 years ago
D) Bank reconciliation account
LE
Lenna
2 years ago
C) Bank sub account
CR
Cristen
2 years ago
B) Balance sheet account
HE
Herminia
2 years ago
A) Cash account
DA
Dante
2 years ago
I think the answer is A) Cash account.
HE
Henriette
2 years ago
Definitely the bank sub account, that's the one used for reconciliation.
VE
Veta
2 years ago
C) Bank sub account
VE
Venita
2 years ago
Yes, the bank sub account is the one used for reconciliation.
VI
Vicente
2 years ago
D) Bank reconciliation account
NA
Na
2 years ago
C) Bank sub account
SA
Sabra
2 years ago
B) Balance sheet account
TA
Tamesha
2 years ago
A) Cash account