Bank Transactions and Reconciliation Statements - Jamb Accounts - Principles of Accounts Past Questions and Answers

Question 31:

• 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 32:

• JAMB 2011

The process of reconciling cheques between banks is termed cheque?

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

Question 33:

• JAMB 2011

In a bank reconciliation statement, interest charged for overdrawn balances should be added to the?

A. Balance as per bank statement
B. Bank balance as per adjusted cash book
C. Aggregate balance as per cash book
D. Bank balance as per cash book

Question 34:

• JAMB 2012

Cash can be drawn from the bank using

A. A bank teller
B. A credit card
C. A recharge card
D. ATM card

Question 35:

• JAMB 2012

In a modern day banking system, cash transfer cannot be made where the transferor

A. Has no sufficient cash with the bank
B. Has no account with the bank
C. Does not reside in the bank's country
D. Does not possess the domestic currency