Post Utme Uniosun 2020 Accounting Question 34

Practice objective / multiple choice question 34 from the 2020 Post Utme Uniosun Accounting examination.

Post Utme Uniosun 2020 Accounting Objective / Multiple Choice
Question 34 POST_UTME_UNIOSUN • 2020 • ACCOUNTING • objective

A company uses the cash book to record all its financial transactions. The cash book shows a balance of ₦150,000. However, the bank statement shows a balance of ₦120,000. What is the reason for the difference?

Answer Options

A. The company has not recorded all its transactions in the cash book.
B. The bank has made an error in its statement.
Correct Answer C. The company has not reconciled its cash book with the bank statement.
D. The company has not deposited all its cash into the bank.
Correct Answer
C
Correct Option:
The company has not reconciled its cash book with the bank statement.

About This Question

This is Post Utme Uniosun 2020 Accounting Question 34. It is one of the objective questions from the 2020 Post Utme Uniosun Accounting examination.

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