Post Utme Noun 2021 Accounting Question 10

Practice objective / multiple choice question 10 from the 2021 Post Utme Noun Accounting examination.

Post Utme Noun 2021 Accounting Objective / Multiple Choice

Question 10 POST_UTME_NOUN • 2021 • ACCOUNTING • objective

A company keeps incomplete records and wants to prepare its financial statements. What is the correct procedure to follow?

Correct Answer A. Prepare a single entry system to record the transactions.

B. Use the cash book to prepare the financial statements.

C. Reconcile the cash book with the bank statement.

D. Contact the auditor to rectify the error.

Correct Answer

Correct Option:

Prepare a single entry system to record the transactions.

This is Post Utme Noun 2021 Accounting Question 10. It is one of the objective questions from the 2021 Post Utme Noun Accounting examination.

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