Which of the following is not a reason due to time difference on recording of
the transactions while preparing bank reconciliation statement?
a) Unpresented cheques.
b) Uncollected cheques.
c) Payment side of cash book overcast.
d) Direct deposit by Customer into bank.
Answers
C IS THE RIGHT ANSWER MARK ME AS A BRAINLIST
Which of the following is not a reason due to time difference on recording of the transactions while preparing bank reconciliation statement?
a) Unpresented cheques.
b) Uncollected cheques.
c) Payment side of cash book overcast.
d) Direct deposit by Customer into bank.
The Correct Option is...
✔ c) Payment side of cash book overcast.
Explanation ⦂
The payment side of the cash book is overcast is not a reason due to the time difference on recording of the transactions while preparing bank reconciliation statements.
Due to the time taken for clearing the chat, cheque received by a firm from debtor are immediately entered on the debit side of the cash book. This increases the balance bank balance according to Facebook. This causes the difference between the bank balance shown in the cash book and the balance shown by the passbook.
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