Post Utme Uniosun 2018 Accounting Question 21

Practice objective / multiple choice question 21 from the 2018 Post Utme Uniosun Accounting examination.

Post Utme Uniosun 2018 Accounting Objective / Multiple Choice
Question 21 POST_UTME_UNIOSUN • 2018 • ACCOUNTING • objective

A company's cash book shows a debit balance of ₦50,000. The bank statement shows a credit balance of ₦55,000. The reconciliation statement shows a difference of ₦5,000. What is the correct explanation for the difference?

Answer Options

Correct Answer A. The company has an outstanding cheque of ₦5,000.
B. The bank has charged a service fee of ₦5,000.
C. The company has deposited an amount of ₦5,000 into the bank but it has not been credited yet.
D. The company has an overdraft facility of ₦5,000.
Correct Answer
A
Correct Option:
The company has an outstanding cheque of ₦5,000.

About This Question

This is Post Utme Uniosun 2018 Accounting Question 21. It is one of the objective questions from the 2018 Post Utme Uniosun Accounting examination.

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