Post Utme Rhema University 2021 Accounting Question 18

Practice objective / multiple choice question 18 from the 2021 Post Utme Rhema University Accounting examination.

Post Utme Rhema University 2021 Accounting Objective / Multiple Choice
Question 18 POST_UTME_RHEMA_UNIVERSITY • 2021 • ACCOUNTING • objective

A company uses the single entry system to record its financial transactions. The company's cash book shows a balance of ₦80,000. However, the company's bank statement shows a balance of ₦100,000. What is the reason for the difference?

Answer Options

A. The company has not recorded all its financial transactions.
B. The bank has charged a fee for the overdraft.
Correct Answer C. The company has not reconciled its cash book with the bank statement.
D. The company has not recorded a deposit made by a customer.
Correct Answer
C
Correct Option:
The company has not reconciled its cash book with the bank statement.

About This Question

This is Post Utme Rhema University 2021 Accounting Question 18. It is one of the objective questions from the 2021 Post Utme Rhema University Accounting examination.

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