Post Utme Pan Atlantic University 2023 Accounting Question 9

Practice objective / multiple choice question 9 from the 2023 Post Utme Pan Atlantic University Accounting examination.

Post Utme Pan Atlantic University 2023 Accounting Objective / Multiple Choice
Question 9 POST_UTME_PAN-ATLANTIC_UNIVERSITY • 2023 • ACCOUNTING • objective

A company's cash book shows a balance of ₦70,000. However, the bank statement shows a balance of ₦80,000. What is the correct procedure to reconcile this difference?

Answer Options

Correct Answer A. Prepare a bank reconciliation statement to identify the differences
B. Prepare a cash book reconciliation statement to identify the differences
C. Prepare a journal entry to adjust the cash book balance to match the bank statement balance
D. Prepare a journal entry to adjust the bank statement balance to match the cash book balance
Correct Answer
A
Correct Option:
Prepare a bank reconciliation statement to identify the differences

About This Question

This is Post Utme Pan Atlantic University 2023 Accounting Question 9. It is one of the objective questions from the 2023 Post Utme Pan Atlantic University Accounting examination.

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