Post Utme Veritas University 2019 Accounting Question 3

Practice objective / multiple choice question 3 from the 2019 Post Utme Veritas University Accounting examination.

Post Utme Veritas University 2019 Accounting Objective / Multiple Choice
Question 3 POST_UTME_VERITAS_UNIVERSITY • 2019 • ACCOUNTING • objective

A company's cash book shows a debit balance of ₦10,000 in the account 'Bank'. The bank statement shows a credit balance of ₦15,000. What is the correct bank reconciliation statement?

Answer Options

Correct Answer A. ₦5,000 debit to Bank and ₦5,000 credit to Bank Overdraft
B. ₦10,000 debit to Bank and ₦10,000 credit to Bank Overdraft
C. ₦15,000 debit to Bank and ₦15,000 credit to Bank Overdraft
D. ₦5,000 debit to Bank and ₦5,000 credit to Bank Overdraft
Correct Answer
A
Correct Option:
₦5,000 debit to Bank and ₦5,000 credit to Bank Overdraft

About This Question

This is Post Utme Veritas University 2019 Accounting Question 3. It is one of the objective questions from the 2019 Post Utme Veritas University Accounting examination.

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