Post Utme Greenfield University 2022 Accounting Question 11

Practice objective / multiple choice question 11 from the 2022 Post Utme Greenfield University Accounting examination.

Post Utme Greenfield University 2022 Accounting Objective / Multiple Choice
Question 11 POST_UTME_GREENFIELD_UNIVERSITY • 2022 • ACCOUNTING • objective

A company uses the single entry system to record its transactions. The company's cash book shows a balance of ₦150,000. However, the company's bank statement shows a balance of ₦120,000. What is the reason for the difference?

Answer Options

Correct Answer A. The company has a loan outstanding with the bank.
B. The company has a credit balance in its cash book.
C. The company has a debit balance in its cash book.
D. The company has a difference in exchange rates.
Correct Answer
A
Correct Option:
The company has a loan outstanding with the bank.

About This Question

This is Post Utme Greenfield University 2022 Accounting Question 11. It is one of the objective questions from the 2022 Post Utme Greenfield University Accounting examination.

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