6
QuizMultiple Choice

Banking Basics

Question 6 • FA Personal Finance

Why is it important to reconcile a bank account regularly?

Answer
t
to receive reward points from the bank
t
to confirm that the balance and transactions are accurate
t
to maintain a certain number of transactions per month
t
to ensure the bank doesn't close the account for inactivity

Explanation

Reconciling means comparing your own account records with the bank statement. This helps you find errors, missed transactions, or unauthorized charges and confirm that the balance is accurate. The correct choice is “to confirm that the balance and transactions are accurate.”

AI-written and checked against the verified answer.

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