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WAEC Financial Accounting 2006 Question 21

Question 21

Banking and Bank Reconciliation

Bank reconciliation statement reconciles

  1. A.bank and cash balances in the cash book
  2. B.bank balance in the cash book and bank statement balance
  3. C.cash balance in the cash book and bank statement balance
  4. D.bank balance brought down and bank balance carried down in the cash book.
Show the answer and explanation

Answer: B (bank balance in the cash book and bank statement balance)

Explanation

It explains the difference between the cash book bank balance and the bank statement.