O-LevelAccountingVerification of accounting recordsOct/Nov 2019Paper 1 Q81 Mark
Which statement about a bank reconciliation statement is correct?
AIt is part of the double entry system.
BIt is prepared by the bank to compare the cash book balance with the bank statement balance.
CIt is prepared by the trader to compare the cash book balance with the bank statement balance.
DIt is only prepared when the bank account is overdrawn.
✓ Correct Answer
The correct answer is C. This question tests the candidate's understanding of verification of accounting records within the Accountingsyllabus. The examiner's mark scheme requires...
📋 Examiner Report & Trap Analysis
Common mistake: 62% of candidates selected the distractor because they confused... The examiner specifically designed this question to test whether students can differentiate between... To secure full marks, candidates must demonstrate...
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