Post Utme Futo 2018 Accounting Question 36

Practice objective / multiple choice question 36 from the 2018 Post Utme Futo Accounting examination.

Post Utme Futo 2018 Accounting Objective / Multiple Choice
Question 36 POST_UTME_FUTO • 2018 • ACCOUNTING • objective

A company's cash book shows a balance of ₦120,000. However, the bank statement shows a balance of ₦110,000. The bank charges a service fee of ₦1,500 and a minimum balance fee of ₦500. What is the correct explanation for the discrepancy?

Answer Options

A. The company has an outstanding cheque of ₦10,000.
Correct Answer B. The company has deposited ₦10,000 into its account but the bank has not yet credited it.
C. The company has a loan of ₦10,000 from the bank that has not been deducted from the cash book balance.
D. The company has paid a bill of ₦10,000 that has not been deducted from the cash book balance.
Correct Answer
B
Correct Option:
The company has deposited ₦10,000 into its account but the bank has not yet credited it.

About This Question

This is Post Utme Futo 2018 Accounting Question 36. It is one of the objective questions from the 2018 Post Utme Futo Accounting examination.

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