Question

The Beginning Balance in the Begin Reconciliation window always equals the Ending Balance from the previous reconciliation period.

a) True
b) False

Answer 1

False.The beginning balance in the Begin Reconciliation window does not always equal the ending balance from the previous reconciliation period.

Step-by-step explanation:

The statement in the question is false. The beginning balance in the Begin Reconciliation window does not always equal the ending balance from the previous reconciliation period.

During the reconciliation process, the beginning balance reflects the balance of the account at the start of the current period, while the ending balance is the calculated balance at the end of the current period.

To reconcile the account, you need to compare the transactions and adjustments made during the period to calculate the ending balance, which is then used as the beginning balance for the next reconciliation.