JAMB Accounting 2014 Objective — Question 15

Question 15 of 50 from the Joint Admissions and Matriculation Board (JAMB) Accounting 2014 Objective paper, with the correct answer and a full explanation.

An item credited in the bank statement but yet to be recorded in the firm's cash book is a

A. bank loan
B. contract payment
C. standing order
D. direct depositCorrect

Explanation

When customers deposit directly into the bank account of the organization, then such is referred to as direct deposit and it may not appear in the cash book.

Sign up free to unlock

Score tracking
Practice history
Saved questions
Progress dashboard
Personalized sessions
Weak-topic breakdown

…and/or go further with premium services and No Ads.

Create free account

More questions from Accounting 2014 Objective More Accounting past papers