Post Utme Coal City University 2018 Accounting Question 9

Practice objective / multiple choice question 9 from the 2018 Post Utme Coal City University Accounting examination.

Post Utme Coal City University 2018 Accounting Objective / Multiple Choice
Question 9 POST_UTME_COAL_CITY_UNIVERSITY • 2018 • ACCOUNTING • objective

A company's cash book shows a balance of ₦150,000. The company's accountant has reconciled the difference by adding a credit note of ₦20,000 and a debit note of ₦10,000. What is the correct explanation for the difference?

Answer Options

A. The company has outstanding checks totaling ₦20,000.
Correct Answer B. The company has deposited ₦20,000 into the bank but has not yet been credited.
C. The company has issued a credit note of ₦20,000 to a customer.
D. The company has paid a bill of ₦20,000 but has not yet been debited.
Correct Answer
B
Correct Option:
The company has deposited ₦20,000 into the bank but has not yet been credited.

About This Question

This is Post Utme Coal City University 2018 Accounting Question 9. It is one of the objective questions from the 2018 Post Utme Coal City University Accounting examination.

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