Post Utme Unilag 2021 Accounting Question 7

Practice objective / multiple choice question 7 from the 2021 Post Utme Unilag Accounting examination.

Post Utme Unilag 2021 Accounting Objective / Multiple Choice
Question 7 POST_UTME_UNILAG • 2021 • ACCOUNTING • objective

A company uses the cash book to record its transactions. The cash book shows a balance of ₦100,000 on December 31st. However, the bank statement shows a balance of ₦120,000 on the same date. What is the reason for the discrepancy?

Answer Options

A. The company has a loan outstanding with the bank.
Correct Answer B. The company has deposited cash into the bank but has not yet been credited.
C. The company has withdrawn cash from the bank but has not yet been debited.
D. The company has a credit balance in the bank account.
Correct Answer
B
Correct Option:
The company has deposited cash into the bank but has not yet been credited.

About This Question

This is Post Utme Unilag 2021 Accounting Question 7. It is one of the objective questions from the 2021 Post Utme Unilag Accounting examination.

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