Post Utme Unilorin 2022 Accounting Question 36

Practice objective / multiple choice question 36 from the 2022 Post Utme Unilorin Accounting examination.

Post Utme Unilorin 2022 Accounting Objective / Multiple Choice
Question 36 POST_UTME_UNILORIN • 2022 • ACCOUNTING • objective

A company uses the single-entry system of accounting. The company's cash book shows a debit balance of ₦120,000. The company's bank statement shows a credit balance of ₦150,000. What is the correct explanation for the difference?

Answer Options

Correct Answer A. The company has a bank overdraft of ₦30,000.
B. The company has a cash credit of ₦30,000.
C. The company has a bank loan of ₦30,000.
D. The company has a cash debit of ₦30,000.
Correct Answer
A
Correct Option:
The company has a bank overdraft of ₦30,000.

About This Question

This is Post Utme Unilorin 2022 Accounting Question 36. It is one of the objective questions from the 2022 Post Utme Unilorin Accounting examination.

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