WAEC Book Keeping 2025 Theory — Question 5
Question 5 of 40 from the West African Examinations Council (WAEC) Book Keeping 2025 Theory paper, with the correct answer and a full explanation.
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Outline three differences between the 'cash column' and 'bank column' in a business's cash book.
Model answer
i. Nature: cash column records physical cash transactions; bank column records cheque/bank transactions ii. Frequency: cash transactions are more frequent and smaller; bank transactions are larger and less frequent iii. Reconciliation: cash column is reconciled with physical cash on hand; bank column is reconciled with bank statements
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