Post Utme Aaua 2020 Accounting Question 16

Practice objective / multiple choice question 16 from the 2020 Post Utme Aaua Accounting examination.

Post Utme Aaua 2020 Accounting Objective / Multiple Choice
Question 16 POST_UTME_AAUA • 2020 • ACCOUNTING • objective

A company uses the cash book to record all its financial transactions. The cash book shows a balance of ₦150,000. However, the bank statement shows a balance of ₦120,000. What is the reason for the discrepancy?

Answer Options

A. The company has not recorded all its financial transactions.
B. The bank has made an error in its statement.
Correct Answer C. The company has not updated its cash book to reflect the current bank balance.
D. The company has made an error in its cash book.
Correct Answer
C
Correct Option:
The company has not updated its cash book to reflect the current bank balance.

About This Question

This is Post Utme Aaua 2020 Accounting Question 16. It is one of the objective questions from the 2020 Post Utme Aaua Accounting examination.

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