Post Utme Futo 2025 Accounting Question 1

Practice objective / multiple choice question 1 from the 2025 Post Utme Futo Accounting examination.

Post Utme Futo 2025 Accounting Objective / Multiple Choice
Question 1 POST_UTME_FUTO • 2025 • ACCOUNTING • objective

A public sector organization has a cash book that records all its financial transactions. The cash book shows a balance of ₦150,000. However, the bank statement shows a balance of ₦120,000. What is the most likely reason for the difference?

Answer Options

A. The cash book has been incorrectly balanced.
B. The bank statement has been incorrectly prepared.
C. There has been a theft of cash from the organization.
Correct Answer D. The cash book has not been updated to reflect the latest transactions.
Correct Answer
D
Correct Option:
The cash book has not been updated to reflect the latest transactions.

About This Question

This is Post Utme Futo 2025 Accounting Question 1. It is one of the objective questions from the 2025 Post Utme Futo Accounting examination.

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