Post Utme Covenant University 2017 Accounting Question 31

Practice objective / multiple choice question 31 from the 2017 Post Utme Covenant University Accounting examination.

Post Utme Covenant University 2017 Accounting Objective / Multiple Choice
Question 31 POST_UTME_COVENANT_UNIVERSITY • 2017 • ACCOUNTING • objective

A company's cash book shows a balance of ₦120,000. However, the bank statement shows a balance of ₦150,000. The company's cash book has the following transactions: Debit: ₦30,000, Credit: ₦20,000. What is the reason for the discrepancy between the cash book balance and the bank statement balance?

Answer Options

A. The bank has charged a fee of ₦10,000.
Correct Answer B. The company has deposited ₦10,000 into the bank but has not recorded it in the cash book.
C. The company has withdrawn ₦10,000 from the bank but has not recorded it in the cash book.
D. The company has made an error in recording a transaction in the cash book.
Correct Answer
B
Correct Option:
The company has deposited ₦10,000 into the bank but has not recorded it in the cash book.

About This Question

This is Post Utme Covenant University 2017 Accounting Question 31. It is one of the objective questions from the 2017 Post Utme Covenant University Accounting examination.

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