Post Utme Uniben 2023 Accounting Question 36

Practice objective / multiple choice question 36 from the 2023 Post Utme Uniben Accounting examination.

Post Utme Uniben 2023 Accounting Objective / Multiple Choice
Question 36 POST_UTME_UNIBEN • 2023 • ACCOUNTING • objective

A company maintains a self-balancing ledger for its cash account. The ledger shows a balance of ₦150,000. However, the company's bank statement shows a balance of ₦120,000. What is the most likely reason for the discrepancy?

Answer Options

A. The company has not yet deposited the cash into its bank account.
B. The company has not yet received the cash from its customers.
C. The bank has charged the company's account for a service fee.
Correct Answer D. The company's accountant has made an error in recording the cash transactions.
Correct Answer
D
Correct Option:
The company's accountant has made an error in recording the cash transactions.

About This Question

This is Post Utme Uniben 2023 Accounting Question 36. It is one of the objective questions from the 2023 Post Utme Uniben Accounting examination.

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