Post Utme Eksu 2020 Accounting Question 20

Practice objective / multiple choice question 20 from the 2020 Post Utme Eksu Accounting examination.

Post Utme Eksu 2020 Accounting Objective / Multiple Choice
Question 20 POST_UTME_EKSU • 2020 • ACCOUNTING • objective

A company's cash book shows a debit balance of ₦1,000,000. The bank statement shows a credit balance of ₦1,200,000. The company's accounting records show a credit balance of ₦800,000. What is the correct explanation for the discrepancy?

Answer Options

A. The company has made a mistake in recording the cash transactions.
B. The bank has made a mistake in recording the cash transactions.
Correct Answer C. The company has made a mistake in recording the bank transactions.
D. The company has made a mistake in recording the accounting transactions.
Correct Answer
C
Correct Option:
The company has made a mistake in recording the bank transactions.

About This Question

This is Post Utme Eksu 2020 Accounting Question 20. It is one of the objective questions from the 2020 Post Utme Eksu Accounting examination.

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