Post Utme Babcock University 2024 Accounting Question 36

Practice objective / multiple choice question 36 from the 2024 Post Utme Babcock University Accounting examination.

Post Utme Babcock University 2024 Accounting Objective / Multiple Choice
Question 36 POST_UTME_BABCOCK_UNIVERSITY • 2024 • ACCOUNTING • objective

A company uses the single-entry system of accounting. The company's cash book shows a debit balance of ₦120,000. The company's trial balance also shows a debit balance of ₦150,000. What is the reason for the difference in the two balances?

Answer Options

A. The company has not recorded all its transactions.
B. The company has recorded some transactions incorrectly.
Correct Answer C. The company has not updated its cash book to reflect the current balance.
D. The company has not prepared a trial balance.
Correct Answer
C
Correct Option:
The company has not updated its cash book to reflect the current balance.

About This Question

This is Post Utme Babcock University 2024 Accounting Question 36. It is one of the objective questions from the 2024 Post Utme Babcock University Accounting examination.

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