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Suppose there were several large outstanding checks on the year-end bank reconciliation that did not clear the bank by the cutoff date. Discuss the possible cause(s) of this, and discuss the nature of the potential misstatement(s) that could result.

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adefioyelaoye

Insufficient funds and irregular signatures are reasons why a cheque may not be cleared in time.

What is a Cheque?

This can be defined as a written, dated, and signed instrument which directs a bank to pay a specific sum of money to the bearer.

Insufficient funds and irregular signatures may delay the clearing of cheque which is a result of human error and could lead to returning it.

Read more about Cheque here https://brainly.com/question/24555580

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