TRADING STOCK Definition

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TRADING STOCK see TRADING SECURITIES.

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BANK RECONCILIATION is the verification of a bank statement balance and the depositor's checkbook balance.

RECONCILE / RECONCILIATION is the adjusting of the difference between two items (e.g., balances, amounts, statements, or accounts) so that the figures are in agreement. Often the reasons for the differences must be explained. One example would be reconciling a checking account (bringing the checking ledger and bank balance statement into agreement).

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