Post Utme Uniben 2021 Accounting Question 26

Practice objective / multiple choice question 26 from the 2021 Post Utme Uniben Accounting examination.

Post Utme Uniben 2021 Accounting Objective / Multiple Choice
Question 26 POST_UTME_UNIBEN • 2021 • ACCOUNTING • objective

A company uses the cash book to record all its financial transactions. The cash book shows a balance of ₦120,000. However, the bank statement shows a balance of ₦150,000. What is the reason for the difference?

Answer Options

A. The company has not recorded all its transactions in the cash book.
B. The bank has made an error in its statement.
Correct Answer C. The company has not reconciled its cash book with the bank statement.
D. The company has not updated its cash book to reflect the current bank balance.
Correct Answer
C
Correct Option:
The company has not reconciled its cash book with the bank statement.

About This Question

This is Post Utme Uniben 2021 Accounting Question 26. It is one of the objective questions from the 2021 Post Utme Uniben Accounting examination.

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