Post Utme Pan Atlantic University 2021 Accounting Question 6

Practice objective / multiple choice question 6 from the 2021 Post Utme Pan Atlantic University Accounting examination.

Post Utme Pan Atlantic University 2021 Accounting Objective / Multiple Choice
Question 6 POST_UTME_PAN-ATLANTIC_UNIVERSITY • 2021 • ACCOUNTING • objective

A public sector organization has a cash book that records all its financial transactions. The cash book shows a balance of ₦1,500,000. However, the bank statement shows a balance of ₦1,800,000. What is the reason for the difference?

Answer Options

Correct Answer A. The cash book has not been updated to reflect the latest transactions.
B. The bank statement has not been updated to reflect the latest transactions.
C. The cash book and bank statement have different accounting periods.
D. The cash book and bank statement have different exchange rates.
Correct Answer
A
Correct Option:
The cash book has not been updated to reflect the latest transactions.

About This Question

This is Post Utme Pan Atlantic University 2021 Accounting Question 6. It is one of the objective questions from the 2021 Post Utme Pan Atlantic University Accounting examination.

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