Post Utme Unilag 2022 Accounting Question 1

Practice objective / multiple choice question 1 from the 2022 Post Utme Unilag Accounting examination.

Post Utme Unilag 2022 Accounting Objective / Multiple Choice
Question 1 POST_UTME_UNILAG • 2022 • ACCOUNTING • objective

A company's cash book shows a debit balance of ₦120,000. However, the bank statement shows a credit balance of ₦150,000. What is the correct explanation for this discrepancy?

Answer Options

A. The company has an overdraft facility with the bank.
Correct Answer B. The company has deposited cash into the bank but the bank has not yet credited the company's account.
C. The company has written a cheque but the bank has not yet debited the company's account.
D. The company has received a bank transfer but the bank has not yet credited the company's account.
Correct Answer
B
Correct Option:
The company has deposited cash into the bank but the bank has not yet credited the company's account.

About This Question

This is Post Utme Unilag 2022 Accounting Question 1. It is one of the objective questions from the 2022 Post Utme Unilag Accounting examination.

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