Post Utme Uniosun 2021 Accounting Question 16

Practice objective / multiple choice question 16 from the 2021 Post Utme Uniosun Accounting examination.

Post Utme Uniosun 2021 Accounting Objective / Multiple Choice
Question 16 POST_UTME_UNIOSUN • 2021 • ACCOUNTING • objective

A company uses the cash book to record all its financial transactions. The cash book shows a balance of ₦1,500,000. However, the bank statement shows a balance of ₦1,800,000. 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 charged the company interest on its overdraft.
Correct Answer C. The company has deposited cash into the bank but the bank has not yet credited the account.
D. The company has written a cheque but the bank has not yet debited the account.
Correct Answer
C
Correct Option:
The company has deposited cash into the bank but the bank has not yet credited the account.

About This Question

This is Post Utme Uniosun 2021 Accounting Question 16. It is one of the objective questions from the 2021 Post Utme Uniosun Accounting examination.

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