Accounting · Bank Reconciliation Statement
Why might bank charges or interest appear in the bank passbook but not in the cash book?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Because the passbook updates automatically while the cash book requires explicit authorization from the bank
- 2Because the cash book is only used for recording physical cash transactions, not bank-related transactions
- 3Because the business is unaware of these transactions until they check the passbook or bank statement✓
- 4Because the bank charges interest only on loans, not on deposits
Correct answer
Because the business is unaware of these transactions until they check the passbook or bank statement
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