Post Utme Noun 2022 Accounting Question 3

Practice objective / multiple choice question 3 from the 2022 Post Utme Noun Accounting examination.

Post Utme Noun 2022 Accounting Objective / Multiple Choice
Question 3 POST_UTME_NOUN • 2022 • ACCOUNTING • objective

A company's accounting records show that it has a cash balance of ₦50,000, but the bank statement shows a balance of ₦40,000. What is the most likely explanation for this discrepancy?

Answer Options

A. The company has a loan from the bank.
B. The company has a credit balance in its bank account.
C. The company has a debit balance in its bank account.
Correct Answer D. The company's accounting records are incorrect.
Correct Answer
D
Correct Option:
The company's accounting records are incorrect.

About This Question

This is Post Utme Noun 2022 Accounting Question 3. It is one of the objective questions from the 2022 Post Utme Noun Accounting examination.

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