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WAEC Financial Accounting 1999 Question 2

Question 2

Banking and Bank Reconciliation

Items in the bank statement of a business but not in the Cash Book before preparation of bank reconciliation statement do not include

  1. A.bank charges
  2. B.standing order
  3. C.presented cheque
  4. D.interest overdraft.
Show the answer and explanation

Answer: C (presented cheque)

Explanation

A presented cheque is already in the cash book; bank charges, standing orders and overdraft interest usually first appear on the statement.