Post Utme Noun 2022 Accounting Question 4

Practice objective / multiple choice question 4 from the 2022 Post Utme Noun Accounting examination.

Post Utme Noun 2022 Accounting Objective / Multiple Choice

Question 4 POST_UTME_NOUN • 2022 • ACCOUNTING • objective

A company's accounting records show that it has a cash balance of ₦80,000, but the bank statement shows a balance of ₦60,000. What is the most likely explanation for this discrepancy?

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

Correct Option:

The company's accounting records are incorrect.

This is Post Utme Noun 2022 Accounting Question 4. It is one of the objective questions from the 2022 Post Utme Noun Accounting examination.

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