Post Utme Mountain Top University 2017 Accounting Question 6

Practice objective / multiple choice question 6 from the 2017 Post Utme Mountain Top University Accounting examination.

Post Utme Mountain Top University 2017 Accounting Objective / Multiple Choice
Question 6 POST_UTME_MOUNTAIN_TOP_UNIVERSITY • 2017 • ACCOUNTING • objective

A company's cash book shows a debit balance of ₦15,000. However, the bank statement shows a credit balance of ₦20,000. What is the correct explanation for the discrepancy?

Answer Options

A. The company has a loan from the bank.
B. The company has a credit balance in its cash book.
C. The company has a debit balance in its bank statement.
Correct Answer D. The company has a credit balance in its bank statement.
Correct Answer
D
Correct Option:
The company has a credit balance in its bank statement.

About This Question

This is Post Utme Mountain Top University 2017 Accounting Question 6. It is one of the objective questions from the 2017 Post Utme Mountain Top University Accounting examination.

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