Post Utme Joseph Ayo Babalola University 2021 Accounting Question 31

Practice objective / multiple choice question 31 from the 2021 Post Utme Joseph Ayo Babalola University Accounting examination.

Post Utme Joseph Ayo Babalola University 2021 Accounting Objective / Multiple Choice
Question 31 POST_UTME_JOSEPH_AYO_BABALOLA_UNIVERSITY • 2021 • ACCOUNTING • objective

A company's cash book shows a debit balance of ₦120,000. The bank statement shows a credit balance of ₦150,000. The difference between the two is ₦30,000. What is the reason for the difference?

Answer Options

A. The company has not yet deposited the cash into the bank.
B. The company has not yet received the cash from the bank.
Correct Answer C. The company has written a cheque that has not yet been presented for payment.
D. The company has received a bank transfer that has not yet been credited to the account.
Correct Answer
C
Correct Option:
The company has written a cheque that has not yet been presented for payment.

About This Question

This is Post Utme Joseph Ayo Babalola University 2021 Accounting Question 31. It is one of the objective questions from the 2021 Post Utme Joseph Ayo Babalola University Accounting examination.

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