Question on: WAEC Accounting - 2015
Unpresented cheques are cheques_________
A
That have been recorded in the cash book but not by the bank
B
That have been received by the bank, but not recorded in the cash book
C
Returned by the bank
D
Written but not handed over to customers
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Correct Option: A
Unpresented cheques are cheques which have not yet cleared through the banking system. It is a term used in the preparation of a bank reconciliation statement. For example, if a business writes a cheque, it will post it to its cash book that day and then send it on to its supplier.
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