Post Utme Veritas University 2023 Accounting Question 3

Practice objective / multiple choice question 3 from the 2023 Post Utme Veritas University Accounting examination.

Post Utme Veritas University 2023 Accounting Objective / Multiple Choice
Question 3 POST_UTME_VERITAS_UNIVERSITY • 2023 • ACCOUNTING • objective

A bank reconciliation statement shows that a customer's account has a credit balance of ₦20,000, but the bank statement shows a debit balance of ₦15,000. What is the reason for the difference?

Answer Options

A. Bank error
B. Customer error
C. Interest on loan
Correct Answer D. Deposit in transit
Correct Answer
D
Correct Option:
Deposit in transit

About This Question

This is Post Utme Veritas University 2023 Accounting Question 3. It is one of the objective questions from the 2023 Post Utme Veritas University Accounting examination.

Master the Exam!

You've seen a preview, but there are thousands more questions plus AI tutor to break down complex solutions.

Unlock Full Access Available for Android & Windows
Chat with Support