Post Utme Futo 2018 Accounting Question 6

Practice objective / multiple choice question 6 from the 2018 Post Utme Futo Accounting examination.

Post Utme Futo 2018 Accounting Objective / Multiple Choice
Question 6 POST_UTME_FUTO • 2018 • ACCOUNTING • objective

A company's cash book shows a balance of ₦150,000. However, the bank statement shows a balance of ₦120,000. The bank reconciliation statement shows a difference of ₦30,000. What is the reason for this difference?

Answer Options

Correct Answer A. The company has outstanding checks.
B. The bank has made an error in its statement.
C. The company has deposited cash into the bank but has not yet been credited.
D. The company has issued a bank draft that has not yet been cashed.
Correct Answer
A
Correct Option:
The company has outstanding checks.

About This Question

This is Post Utme Futo 2018 Accounting Question 6. It is one of the objective questions from the 2018 Post Utme Futo Accounting examination.

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