Post Utme Nile University 2025 Accounting Question 16

Practice objective / multiple choice question 16 from the 2025 Post Utme Nile University Accounting examination.

Post Utme Nile University 2025 Accounting Objective / Multiple Choice
Question 16 POST_UTME_NILE_UNIVERSITY • 2025 • ACCOUNTING • objective

A company uses the single-entry system of accounting. The company's cash book shows a balance of ₦250,000. The bank statement shows a balance of ₦300,000. The company's accountant has prepared a bank reconciliation statement showing a difference of ₦20,000. What is the reason for the difference?

Answer Options

Correct Answer A. The company has outstanding checks.
B. The company has deposited cash into the bank but has not been credited yet.
C. The company has a loan from the bank that has not been recorded.
D. The company has a credit card balance that has not been recorded.
Correct Answer
A
Correct Option:
The company has outstanding checks.

About This Question

This is Post Utme Nile University 2025 Accounting Question 16. It is one of the objective questions from the 2025 Post Utme Nile University Accounting examination.

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