Lack of agreement between the cash balance per bank and the cash balance per books is due to:

Question

Quizplus · Accepted Answer

Time lags and errors can cause discrepancies between the cash balance on the bank statement and the cash balance in the company's books. Time lags occur because certain transactions may not be recorded by the bank and the company at the same time. Errors, either by the bank or the company, can also lead to differences in recorded cash balances.

Lack of Agreement Between the Cash Balance Per Bank and the Cash