JAMB Accounting 2023 Objective — Question 4

Question 4 of 40 from the Joint Admissions and Matriculation Board (JAMB) Accounting 2023 Objective paper, with the correct answer and a full explanation.

The discrepancy between the Cash book and the Bank statement will be corrected using

A. Journal Entry
B. Suspense Account
C. Adjusted Cash BookCorrect
D. Bank Statement

Explanation

The Adjusted Cash Book only or Bank reconciliation only or combination of the two is used to correct the disagreement between Cash Book and Bank reconciliation statement.

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