Post Utme Covenant University 2017 Accounting Question 34

Practice objective / multiple choice question 34 from the 2017 Post Utme Covenant University Accounting examination.

Post Utme Covenant University 2017 Accounting Objective / Multiple Choice
Question 34 POST_UTME_COVENANT_UNIVERSITY • 2017 • ACCOUNTING • objective

A company's ledger accounts include a control account for its bank account. The control account shows a balance of ₦100,000. However, the company's cash book shows a balance of ₦120,000. What is the reason for the discrepancy between the control account balance and the cash book 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 control account.
C. The company has withdrawn ₦10,000 from the bank but has not recorded it in the control account.
D. The company has made an error in recording a transaction in the control account.
Correct Answer
B
Correct Option:
The company has deposited ₦10,000 into the bank but has not recorded it in the control account.

About This Question

This is Post Utme Covenant University 2017 Accounting Question 34. It is one of the objective questions from the 2017 Post Utme Covenant University Accounting examination.

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