Courses of discrepancies between cashbook and bank statement - Jamb Accounts - Principles of Accounts Past Questions and Answers

Question 16:

• JAMB 2010

A major cause of discrepancy between bank statement and the cash book that overstates the bank statement balance is the?

A. Commission paid
B. Interest received
C. Direct payment
D. Direct withdrawal

Question 17:

• JAMB 2010

The bank charges levied on a current account holder is the charge on?

A. Transaction
B. Turnover
C. Transfer
D. Cash received

Question 18:

• JAMB 2010

The course of discrepancies between the bank statement and the cash book that overstates the cash book is the?

A. Dividend received
B. Uncredited expenses
C. Uncredited cheques
D. Interest on lodgement

Question 19:

• JAMB 2011

In bank reconciliation process, discrepancies cause by timing arises as a result of?

A. Cash book bank statement
B. Bank statement only
C. Cash book, bank statement and other incidental records
D. Cash book only

Question 20:

• JAMB 2011

The process of reconciling cheques between banks is termed cheque?

A. Clearing
B. Truncation
C. Holding
D. Confirmation