Post Utme Bsu 2017 Accounting Question 30

Practice objective / multiple choice question 30 from the 2017 Post Utme Bsu Accounting examination.

Post Utme Bsu 2017 Accounting Objective / Multiple Choice
Question 30 POST_UTME_BSU • 2017 • ACCOUNTING • objective

A company uses the self-balancing ledger system to record its transactions. The ledger shows a balance of ₦150,000. However, the bank statement shows a balance of ₦120,000. What is the reason for the difference?

Answer Options

A. The company has made a mistake in recording its transactions.
B. The bank has made an error in its statement.
Correct Answer C. The company has outstanding checks that have not been recorded in the ledger.
D. The company has deposited cash into the bank that has not been recorded in the ledger.
Correct Answer
C
Correct Option:
The company has outstanding checks that have not been recorded in the ledger.

About This Question

This is Post Utme Bsu 2017 Accounting Question 30. It is one of the objective questions from the 2017 Post Utme Bsu Accounting examination.

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