Post Utme Unilag 2019 Accounting Question 6

Practice objective / multiple choice question 6 from the 2019 Post Utme Unilag Accounting examination.

Post Utme Unilag 2019 Accounting Objective / Multiple Choice
Question 6 POST_UTME_UNILAG • 2019 • ACCOUNTING • objective

A company's cash book shows a credit balance of ₦12,500. However, the bank statement shows a debit balance of ₦10,000. What is the correct explanation for this discrepancy?

Answer Options

A. The company has a loan outstanding with the bank.
B. The company has deposited cash into the bank but has not yet been credited.
C. The company has written a cheque but has not yet been debited.
Correct Answer D. The company has a credit balance in its cash book but a debit balance in its bank statement.
Correct Answer
D
Correct Option:
The company has a credit balance in its cash book but a debit balance in its bank statement.

About This Question

This is Post Utme Unilag 2019 Accounting Question 6. It is one of the objective questions from the 2019 Post Utme Unilag Accounting examination.

View More Post Utme Unilag 2019 Accounting Questions More Post Utme Unilag Practice Questions Back to Questions

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