Post Utme Joseph Ayo Babalola University 2022 Accounting Question 7

Practice objective / multiple choice question 7 from the 2022 Post Utme Joseph Ayo Babalola University Accounting examination.

Post Utme Joseph Ayo Babalola University 2022 Accounting Objective / Multiple Choice
Question 7 POST_UTME_JOSEPH_AYO_BABALOLA_UNIVERSITY • 2022 • ACCOUNTING • objective

A company uses the cash book method to record its transactions. The cash book shows a balance of ₦120,000. However, the company's bank statement shows a balance of ₦100,000. What is the most likely explanation for the discrepancy?

Answer Options

A. The company has not yet recorded a deposit.
Correct Answer B. The company has incorrectly recorded a withdrawal.
C. The company has incorrectly recorded a deposit.
D. The company has not yet recorded a withdrawal.
Correct Answer
B
Correct Option:
The company has incorrectly recorded a withdrawal.

About This Question

This is Post Utme Joseph Ayo Babalola University 2022 Accounting Question 7. It is one of the objective questions from the 2022 Post Utme Joseph Ayo Babalola University Accounting examination.

View More Post Utme Joseph Ayo Babalola University 2022 Accounting Questions More Post Utme Joseph Ayo Babalola University Practice Questions Back to Questions

Master the Exam!

You've seen a preview, but there are thousands more questions plus AI tutor to break down complex solutions.

Unlock Full Access Available for Android & Windows
Chat with Support