Post Utme Bells University 2021 Accounting Question 21

Practice objective / multiple choice question 21 from the 2021 Post Utme Bells University Accounting examination.

Post Utme Bells University 2021 Accounting Objective / Multiple Choice

Question 21 POST_UTME_BELLS_UNIVERSITY • 2021 • ACCOUNTING • objective

A company's cash book shows a credit balance of ₦15,000 in the cash account. However, the bank statement shows a debit balance of ₦20,000. What is the correct explanation for this discrepancy?

Answer Options

A. The company has made a mistake in recording the cash transactions.

B. The bank has made an error in preparing the bank statement.

Correct Answer C. The company has deposited cash into the bank but has not yet been credited.

D. The company has withdrawn cash from the bank but has not yet been debited.

Correct Answer

Correct Option:

The company has deposited cash into the bank but has not yet been credited.

About This Question

This is Post Utme Bells University 2021 Accounting Question 21. It is one of the objective questions from the 2021 Post Utme Bells University Accounting examination.

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