Post Utme Veritas University 2023 Accounting Question 6

Practice objective / multiple choice question 6 from the 2023 Post Utme Veritas University Accounting examination.

Post Utme Veritas University 2023 Accounting Objective / Multiple Choice

Question 6 POST_UTME_VERITAS_UNIVERSITY • 2023 • ACCOUNTING • objective

A company's cash book shows a balance of ₦120,000. However, the bank statement shows a balance of ₦150,000. What is the likely reason for the discrepancy?

Answer Options

A. The company has not yet deposited the cash into the bank.

Correct Answer B. The bank has not yet credited the company's account for the deposited cash.

C. The company has not yet debited the cash from the bank account.

D. The bank has charged a fee for the service.

Correct Answer

Correct Option:

The bank has not yet credited the company's account for the deposited cash.

About This Question

This is Post Utme Veritas University 2023 Accounting Question 6. It is one of the objective questions from the 2023 Post Utme Veritas University Accounting examination.

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