Post Utme Covenant University 2023 Accounting Question 21

Practice objective / multiple choice question 21 from the 2023 Post Utme Covenant University Accounting examination.

Post Utme Covenant University 2023 Accounting Objective / Multiple Choice
Question 21 POST_UTME_COVENANT_UNIVERSITY • 2023 • ACCOUNTING • objective

A company's cash book shows a balance of ₦50,000. However, the bank statement shows a balance of ₦60,000. What is the most likely reason for the discrepancy?

Answer Options

A. The company has not yet deposited the cash into the bank.
Correct Answer B. The bank has not yet credited the company's account for the deposited cash.
C. The company has not yet debited the bank for the withdrawn cash.
D. The bank has charged a service fee on the company's account.
Correct Answer
B
Correct Option:
The bank has not yet credited the company's account for the deposited cash.

About This Question

This is Post Utme Covenant University 2023 Accounting Question 21. It is one of the objective questions from the 2023 Post Utme Covenant University Accounting examination.

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