Post Utme Wellspring University 2021 Accounting Question 8

Practice objective / multiple choice question 8 from the 2021 Post Utme Wellspring University Accounting examination.

Post Utme Wellspring University 2021 Accounting Objective / Multiple Choice
Question 8 POST_UTME_WELLSPRING_UNIVERSITY • 2021 • ACCOUNTING • objective

A company's balance sheet shows a total asset value of ₦500,000. However, the company's cash book shows a cash balance of ₦200,000. What is the likely reason for the discrepancy?

Answer Options

Correct Answer A. The company has not yet recorded the cash in the balance sheet.
B. The company has not yet recorded the assets in the balance sheet.
C. The company has made an error in its balance sheet.
D. The company has made an error in its cash book.
Correct Answer
A
Correct Option:
The company has not yet recorded the cash in the balance sheet.

About This Question

This is Post Utme Wellspring University 2021 Accounting Question 8. It is one of the objective questions from the 2021 Post Utme Wellspring University Accounting examination.

View More Post Utme Wellspring University 2021 Accounting Questions More Post Utme Wellspring University Practice Questions Back to Questions

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