Post Utme Igbinedion University 2019 Accounting Question 3

Practice objective / multiple choice question 3 from the 2019 Post Utme Igbinedion University Accounting examination.

Post Utme Igbinedion University 2019 Accounting Objective / Multiple Choice
Question 3 POST_UTME_IGBINEDION_UNIVERSITY • 2019 • ACCOUNTING • objective

A company's bank reconciliation statement showed a difference of ₦20,000 between the company's cash book balance and the bank statement balance. The company's accountant suspected that the difference was due to a bank error. What is the correct accounting treatment for this difference?

Answer Options

A. Debit the bank account by ₦20,000.
Correct Answer B. Credit the bank account by ₦20,000.
C. Debit the cash account by ₦20,000.
D. Credit the cash account by ₦20,000.
Correct Answer
B
Correct Option:
Credit the bank account by ₦20,000.

About This Question

This is Post Utme Igbinedion University 2019 Accounting Question 3. It is one of the objective questions from the 2019 Post Utme Igbinedion University Accounting examination.

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