JAMB Accounting 2011 Objective — Question 10

Question 10 of 49 from the Joint Admissions and Matriculation Board (JAMB) Accounting 2011 Objective paper, with the correct answer and a full explanation.

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

A. A. cash book and bank statement onlyCorrect
B. B. bank statement only
C. C. cash book, bank statement and other incidental records
D. D. cash book only

Explanation

Timing differences (such as unpresented and uncredited cheques) arise from differences between the cash book and the bank statement.

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