Post Utme Oau 2019 Accounting Question 11

Practice objective / multiple choice question 11 from the 2019 Post Utme Oau Accounting examination.

Post Utme Oau 2019 Accounting Objective / Multiple Choice
Question 11 POST_UTME_OAU • 2019 • ACCOUNTING • objective

A company uses the single-entry system of accounting. The company's cash book shows a balance of ₦120,000. The bank statement shows a balance of ₦150,000. The difference between the two balances is ₦30,000. What is the reason for this difference?

Answer Options

Correct Answer A. The company has a loan from the bank.
B. The company has a credit balance in its cash book.
C. The company has a debit balance in its bank statement.
D. The company has a difference in exchange rates.
Correct Answer
A
Correct Option:
The company has a loan from the bank.

About This Question

This is Post Utme Oau 2019 Accounting Question 11. It is one of the objective questions from the 2019 Post Utme Oau Accounting examination.

View More Post Utme Oau 2019 Accounting Questions More Post Utme Oau Practice Questions Back to Questions

Master the Exam!

You've seen a preview, but there are thousands more questions plus AI tutor to break down complex solutions.

Unlock Full Access Available for Android & Windows
Chat with Support