Post Utme Greenfield University 2020 Accounting Question 3

Practice objective / multiple choice question 3 from the 2020 Post Utme Greenfield University Accounting examination.

Post Utme Greenfield University 2020 Accounting Objective / Multiple Choice
Question 3 POST_UTME_GREENFIELD_UNIVERSITY • 2020 • ACCOUNTING • objective

A company has a cash book that shows a balance of ₦50,000. The bank statement shows a balance of ₦40,000. What is the correct bank reconciliation statement?

Answer Options

Correct Answer A. ₦10,000 debit to Bank and ₦10,000 credit to Cash
B. ₦10,000 credit to Bank and ₦10,000 debit to Cash
C. ₦20,000 debit to Bank and ₦20,000 credit to Cash
D. ₦20,000 credit to Bank and ₦20,000 debit to Cash
Correct Answer
A
Correct Option:
₦10,000 debit to Bank and ₦10,000 credit to Cash

About This Question

This is Post Utme Greenfield University 2020 Accounting Question 3. It is one of the objective questions from the 2020 Post Utme Greenfield University Accounting examination.

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