Post Utme Uniben 2024 Accounting Question 34

Practice objective / multiple choice question 34 from the 2024 Post Utme Uniben Accounting examination.

Post Utme Uniben 2024 Accounting Objective / Multiple Choice
Question 34 POST_UTME_UNIBEN • 2024 • ACCOUNTING • objective

A company uses the double-entry system to record its transactions. The company's cash book shows a credit balance of ₦15,000 in the bank account. However, the bank statement shows a debit balance of ₦20,000. What is the correct explanation for the discrepancy?

Answer Options

Correct Answer A. The company has a bank overdraft.
B. The company has a cash credit.
C. The company has a bank loan.
D. The company has a cash surplus.
Correct Answer
A
Correct Option:
The company has a bank overdraft.

About This Question

This is Post Utme Uniben 2024 Accounting Question 34. It is one of the objective questions from the 2024 Post Utme Uniben Accounting examination.

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