Post Utme Veritas University 2025 Accounting Question 3

Practice objective / multiple choice question 3 from the 2025 Post Utme Veritas University Accounting examination.

Post Utme Veritas University 2025 Accounting Objective / Multiple Choice
Question 3 POST_UTME_VERITAS_UNIVERSITY • 2025 • ACCOUNTING • objective

A company's cash book shows a balance of ₦100,000. The company's bank statement shows a balance of ₦120,000. What is the correct explanation for the difference?

Answer Options

A. The company has a cash credit of ₦20,000
Correct Answer B. The company has a bank overdraft of ₦20,000
C. The company has a cash debit of ₦20,000
D. The company has a bank credit of ₦20,000
Correct Answer
B
Correct Option:
The company has a bank overdraft of ₦20,000

About This Question

This is Post Utme Veritas University 2025 Accounting Question 3. It is one of the objective questions from the 2025 Post Utme Veritas University Accounting examination.

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