Accounting for IGCSE & O level - The Fundamentals Of Accounting (Section 31 - No. 15)
If a company's bank statement shows a balance different from the cash book balance, what is the common reason for this?
The company is using incorrect accounting principles.
Errors in the cash book or bank statement.
The company is generating insufficient revenue.
The company has too many expenses.
Explanation
Discrepancies between the bank statement and the cash book often arise due to errors or timing differences in recording transactions.
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