NECO Accounting 2022 Objective — Question 10
Question 10 of 50 from the National Examinations Council (NECO) Accounting 2022 Objective paper, with the correct answer and a full explanation.
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Using the information in Q9, the balance as per bank statement is
- A. $1,430 Cr
- B. $580 DrCorrect
- C. $430 Cr
- D. $430 Dr
Explanation
Balance per bank statement = adjusted cash book (600 Cr) + unpresented cheques (1,680) - uncredited cheques (500) = 580 overdrawn (Dr).
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