WAEC Accounting 2020 Objective — Question 2

Question 2 of 50 from the West African Examinations Council (WAEC) Accounting 2020 Objective paper, with the correct answer and a full explanation.

When bank charges are discovered in a bank statement, the adjustment is effected in the

A. bank reconciliation statement
B. cash bookCorrect
C. suspense account
D. bank loan account

Explanation

Any item discovered in the bank statement that indicates the cashier has not been affected (recorded) will be dealt with in the cash book, and adjustment will follow accordingly.

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