Which of the following transactions will result in disagreement between the cash book and the bank statements?
Selling of goods on credit to a customer
Withdrawal of goods by the proprietor for his personel use
Cheque paid directly into the bank account by a customer
Omission of purchases received from a supplier on credit
Correct answer is C
A cheque payment is recorded in the cash book when the cheque is despatched. The bank only records such a cheque when it is paid by the bank, which may be several days later. Items such as interest may appear on the bank statement but are not recorded in the cash book as the business is unaware that they have arisen.