Post Utme Uniosun 2022 Accounting Question 16

Practice objective / multiple choice question 16 from the 2022 Post Utme Uniosun Accounting examination.

Post Utme Uniosun 2022 Accounting Objective / Multiple Choice
Question 16 POST_UTME_UNIOSUN • 2022 • ACCOUNTING • objective

A company uses the cash book to record its financial transactions. The cash book shows a balance of ₦150,000 on December 31, 2022. However, the bank statement shows a balance of ₦120,000 on the same date. What is the most likely reason for the difference?

Answer Options

Correct Answer A. The company has outstanding checks that have not been cleared by the bank.
B. The company has deposited cash into the bank that has not been recorded in the cash book.
C. The company has recorded a sale in the cash book that has not been recorded in the bank statement.
D. The company has made an error in recording a transaction in the cash book.
Correct Answer
A
Correct Option:
The company has outstanding checks that have not been cleared by the bank.

About This Question

This is Post Utme Uniosun 2022 Accounting Question 16. It is one of the objective questions from the 2022 Post Utme Uniosun Accounting examination.

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