Post Utme Abu 2021 Accounting Question 38

Practice objective / multiple choice question 38 from the 2021 Post Utme Abu Accounting examination.

Post Utme Abu 2021 Accounting Objective / Multiple Choice

Question 38 POST_UTME_ABU • 2021 • ACCOUNTING • objective

A government agency has a cash book that shows a balance of ₦200,000. However, the agency's bank statement shows a balance of ₦250,000. What is the reason for the difference?

A. The agency has a loan from the bank.

B. The agency has a credit balance in its bank account.

Correct Answer C. The agency has a debit balance in its bank account.

D. The agency has a cash credit balance in its bank account.

Correct Answer

Correct Option:

The agency has a debit balance in its bank account.

This is Post Utme Abu 2021 Accounting Question 38. It is one of the objective questions from the 2021 Post Utme Abu Accounting examination.

You've seen a preview, but there are thousands more questions plus AI tutor to break down complex solutions.

Unlock Full Access Available for Android & Windows

Chat with Support