Post Utme Redeemers University 2023 Accounting Question 11

Practice objective / multiple choice question 11 from the 2023 Post Utme Redeemers University Accounting examination.

Post Utme Redeemers University 2023 Accounting Objective / Multiple Choice

Question 11 POST_UTME_REDEEMERS_UNIVERSITY • 2023 • ACCOUNTING • objective

A company's cash book shows a debit balance of ₦120,000. However, the bank statement shows a credit balance of ₦150,000. What is the correct explanation for this discrepancy?

Answer Options

A. The company has a cash overdraft.

Correct Answer B. The company has a bank overdraft.

C. The company's cash book is incorrect.

D. The company's bank statement is incorrect.

Correct Answer

Correct Option:

The company has a bank overdraft.

About This Question

This is Post Utme Redeemers University 2023 Accounting Question 11. It is one of the objective questions from the 2023 Post Utme Redeemers University Accounting examination.

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