Multiple choice general knowledge

What is BRS?

  1. Bill Reconcilitation System

  2. Bank Reconcilitation Statement

  3. Bank Reconcilitation System

  4. Business Reconsilitation Statement

Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

BRS stands for Bank Reconciliation Statement. It is prepared to reconcile the difference between the bank balance shown in the cash book and the balance shown in the bank statement. The differences arise due to cheques issued but not presented, cheques deposited but not credited, bank charges, etc. Note the typo 'Reconcilitation' in the question.