Post Utme Redeemers University 2017 Accounting Question 27

Practice objective / multiple choice question 27 from the 2017 Post Utme Redeemers University Accounting examination.

Post Utme Redeemers University 2017 Accounting Objective / Multiple Choice
Question 27 POST_UTME_REDEEMERS_UNIVERSITY • 2017 • ACCOUNTING • objective

A company's bank reconciliation statement shows a difference of ₦10,000 between the bank's statement and the company's cash book. The bank's statement shows a balance of ₦50,000, while the cash book shows a balance of ₦40,000. What is the correct explanation for this difference?

Answer Options

A. The bank has charged a service fee of ₦10,000
B. The company has deposited ₦10,000 into the bank but it has not been credited yet
Correct Answer C. The bank has made an error in its statement and has overcharged the company by ₦10,000
D. The company has withdrawn ₦10,000 from the bank but it has not been debited yet
Correct Answer
C
Correct Option:
The bank has made an error in its statement and has overcharged the company by ₦10,000

About This Question

This is Post Utme Redeemers University 2017 Accounting Question 27. It is one of the objective questions from the 2017 Post Utme Redeemers University Accounting examination.

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