Post Utme Summit University 2017 Accounting Question 3

Practice objective / multiple choice question 3 from the 2017 Post Utme Summit University Accounting examination.

Post Utme Summit University 2017 Accounting Objective / Multiple Choice
Question 3 POST_UTME_SUMMIT_UNIVERSITY • 2017 • ACCOUNTING • objective

A company's bank statement shows a balance of ₦80,000, but the company's cash book shows a balance of ₦90,000. What is the reason for the discrepancy?

Answer Options

A. Bank charges
B. Cheque returned unpaid
Correct Answer C. Deposit in transit
D. Withdrawal in transit
Correct Answer
C
Correct Option:
Deposit in transit

About This Question

This is Post Utme Summit University 2017 Accounting Question 3. It is one of the objective questions from the 2017 Post Utme Summit University Accounting examination.

Master the Exam!

You've seen a preview, but there are thousands more questions plus AI tutor to break down complex solutions.

Unlock Full Access Available for Android & Windows
Chat with Support