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Jamb Accounts - Principles of Accounts Past QuestionsJamb Past Questions and Answers on Courses of discrepancies between cashbook and bank statementQuestion 1:The term "accounting period" is used to refer to the A. Time span during which taxes are paid to the inland revenue board B. Budget period, usually one year, relied on by the accountant C. Time span, usually one year, covered by financial statement D. Period within which debtors are expected to settle accounts Question 2:When the sum of money appears on the credit side of the cash book, but not on the debit side of the bank statement, the sum is regarded as A. Uncredited cheques B. Dishonoured cheques C. Direct remittance to the bank D. Unpresented cheques Question 3:State Bank collected a note for A-Makura Company. This collection, not yet recorded in AL-Makura's books, appears on the bank reconciliation as? A. An addition to balance per book B. A deduction from balance per bank statement C. An addition to balance per bank statement D. A deduction from balance per books Question 4:Which of the following bank reconciliation items should not be added or subtracted from the bank statement balance to determine the adjusted cash balance? A. Outstanding cheques B. Bank service charges C. Deposit in the mail not yet received by the bank D. Bank error, charging a company for another company's cheque Question 5:In order to make the cash book balance equal to the bank statement, it is usual to add? A. Uncredited cheques B. Direct payments by bank C. Bank charges D. Unpresented cheques |
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