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Question
Which of the following is/are cause of difference of balance between cash book & the pass book?
Which of the following is/are cause of difference of balance between cash book & the pass book?
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Solution
The correct option is B Both (A) & (B)
Errors may be committed not only by the firm but also the bank of the account holder. The difference between cash book and pass book can be due to errors in any of these which may not allow them to tally and these errors or frauds may reflect in bank reconciliation statement.
Errors may be committed not only by the firm but also the bank of the account holder. The difference between cash book and pass book can be due to errors in any of these which may not allow them to tally and these errors or frauds may reflect in bank reconciliation statement.
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