Post Utme Afe Babalola University 2023 Accounting Question 39

Practice objective / multiple choice question 39 from the 2023 Post Utme Afe Babalola University Accounting examination.

Post Utme Afe Babalola University 2023 Accounting Objective / Multiple Choice

Question 39 POST_UTME_AFE_BABALOLA_UNIVERSITY • 2023 • ACCOUNTING • objective

A trader maintains a cash book and a sales ledger. The cash book shows a debit balance of ₦10,000, while the sales ledger shows a credit balance of ₦5,000. What is the correct treatment of the difference?

Answer Options

Correct Answer A. The difference is a discrepancy that needs to be investigated.

B. The difference is a legitimate transaction that needs to be recorded in the sales ledger.

C. The difference is a legitimate transaction that needs to be recorded in the cash book.

D. The difference is a mistake that needs to be corrected in the sales ledger.

Correct Answer

Correct Option:

The difference is a discrepancy that needs to be investigated.

About This Question

This is Post Utme Afe Babalola University 2023 Accounting Question 39. It is one of the objective questions from the 2023 Post Utme Afe Babalola University Accounting examination.

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