Post Utme Wellspring University 2023 Accounting Question 16

Practice objective / multiple choice question 16 from the 2023 Post Utme Wellspring University Accounting examination.

Post Utme Wellspring University 2023 Accounting Objective / Multiple Choice
Question 16 POST_UTME_WELLSPRING_UNIVERSITY • 2023 • ACCOUNTING • objective

A company maintains a cash book and a bank statement. The cash book shows a balance of ₦150,000, while the bank statement shows a balance of ₦120,000. The bank statement also shows a credit of ₦30,000 for a dishonored cheque. What is the correct explanation for the difference?

Answer Options

A. The company has a cash surplus of ₦30,000.
Correct Answer B. The company has a cash deficit of ₦30,000.
C. The company has a bank overdraft of ₦30,000.
D. The company has a cash shortage of ₦30,000.
Correct Answer
B
Correct Option:
The company has a cash deficit of ₦30,000.

About This Question

This is Post Utme Wellspring University 2023 Accounting Question 16. It is one of the objective questions from the 2023 Post Utme Wellspring University Accounting examination.

View More Post Utme Wellspring University 2023 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