a) what do you understand by errors? What are the main types of errors (10marks)
b) distinguish between income& expenditure and profit &loss a/c (5 marks)
c) distinguish between trade discount and cash discount (5 marks)
d) from the following information, prepare a bank reconciliation statement (10 marks)
i) balance as per bank statement 9,500
ii) balance as per cash book 12,300
iii) cheques issued and not collected 2,500
iv) direct deposits 1,500
v) bank charges not included in cash book 500
vi) standing orders 2,000
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