Post Utme Joseph Ayo Babalola University 2022 Accounting Question 1

Practice objective / multiple choice question 1 from the 2022 Post Utme Joseph Ayo Babalola University Accounting examination.

Post Utme Joseph Ayo Babalola University 2022 Accounting Objective / Multiple Choice
Question 1 POST_UTME_JOSEPH_AYO_BABALOLA_UNIVERSITY • 2022 • ACCOUNTING • objective

A company's cash book shows a balance of ₦250,000. However, the bank statement shows a balance of ₦280,000. What is the likely reason for the discrepancy?

Answer Options

A. The company has not yet received the bank statement.
Correct Answer B. The bank has charged a fee for the overdraft.
C. The company has deposited a cheque that has not yet been cleared.
D. The company's cash book is not up-to-date.
Correct Answer
B
Correct Option:
The bank has charged a fee for the overdraft.

About This Question

This is Post Utme Joseph Ayo Babalola University 2022 Accounting Question 1. It is one of the objective questions from the 2022 Post Utme Joseph Ayo Babalola University Accounting examination.

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