Post Utme Veritas University 2025 Accounting Question 21

Practice objective / multiple choice question 21 from the 2025 Post Utme Veritas University Accounting examination.

Post Utme Veritas University 2025 Accounting Objective / Multiple Choice

Question 21 POST_UTME_VERITAS_UNIVERSITY • 2025 • ACCOUNTING • objective

A company's cash book shows a credit balance of ₦12,000. However, the bank statement shows a debit balance of ₦8,000. What is the likely reason for this discrepancy?

Answer Options

A. The company has not recorded a bank overdraft.

B. The company has not recorded a bank loan.

Correct Answer C. The company's bank account has been overdrawn.

D. The company's bank account has been credited with an incorrect amount.

Correct Answer

Correct Option:

The company's bank account has been overdrawn.

About This Question

This is Post Utme Veritas University 2025 Accounting Question 21. It is one of the objective questions from the 2025 Post Utme Veritas University Accounting examination.

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