JAMB 2010
A major cause of discrepancy between bank statement and the cash book that overstates the bank statement balance is the?
- Acommission paid
- Binterest received
- Cdirect payment
- Ddirect withdrawal
Explanation
Interest received by the bank and credited to the customer's account increases the bank statement balance. If the customer has not yet recorded this interest in their cash book, the bank statement balance will be higher (overstated) compared to the cash book balance.
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