JAMB Accounting 2023 Objective — Question 15

Question 15 of 40 from the Joint Admissions and Matriculation Board (JAMB) Accounting 2023 Objective paper, with the correct answer and a full explanation.

Unpresented cheques will A.

A. overstates the cash book.
B. understate the cashbook.Correct
C. equates cash book and bank statement.
D. understate the bank statement.

Explanation

Unpresented cheques will make the cash book balance lower. This is because it has been deducted from the bank balance in the cashbook but not yet reflected in the bank.

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