Post Utme Elizade University 2022 Accounting Question 16

Practice objective / multiple choice question 16 from the 2022 Post Utme Elizade University Accounting examination.

Post Utme Elizade University 2022 Accounting Objective / Multiple Choice
Question 16 POST_UTME_ELIZADE_UNIVERSITY • 2022 • ACCOUNTING • objective

A company uses the single-entry system of accounting. The company's cash account shows a debit balance of ₦120,000. The company's bank statement shows a balance of ₦150,000. What is the reason for the difference?

Answer Options

Correct Answer A. The company has a bank overdraft.
B. The company has a cash credit balance.
C. The company has a bank overdraft and a cash credit balance.
D. The company has a cash debit balance.
Correct Answer
A
Correct Option:
The company has a bank overdraft.

About This Question

This is Post Utme Elizade University 2022 Accounting Question 16. It is one of the objective questions from the 2022 Post Utme Elizade University Accounting examination.

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