Post Utme Nile University 2024 Accounting Question 22

Practice objective / multiple choice question 22 from the 2024 Post Utme Nile University Accounting examination.

Post Utme Nile University 2024 Accounting Objective / Multiple Choice
Question 22 POST_UTME_NILE_UNIVERSITY • 2024 • ACCOUNTING • objective

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

Answer Options

A. Debit the 'Bank' account by ₦20,000 and credit the 'Bank Charges' account by ₦5,000
Correct Answer B. Credit the 'Bank' account by ₦15,000 and debit the 'Bank Charges' account by ₦5,000
C. Debit the 'Bank' account by ₦20,000 and credit the 'Bank Charges' account by ₦5,000
D. Do nothing, as it is a normal transaction
Correct Answer
B
Correct Option:
Credit the 'Bank' account by ₦15,000 and debit the 'Bank Charges' account by ₦5,000

About This Question

This is Post Utme Nile University 2024 Accounting Question 22. It is one of the objective questions from the 2024 Post Utme Nile University Accounting examination.

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