A loan account shows a balance of ₹1,00,000 in the subsidiary register but ₹80,000 in the accounting records The appropr...

Type: MCQ • Marks: 1

A loan account shows a balance of ₹1,00,000 in the subsidiary register but ₹80,000 in the accounting records The appropriate response is:

A. Ignore the difference

B. Reconcile the records and identify/correct the discrepancy

C. Write off ₹20,000 immediately

D. Ask the borrower to decide

Explanation

Reconciliation is essential for reliable financial reporting.

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UPSC Principal & Vice Principal Management Finance Administration

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