Post Utme Aaua 2018 Accounting Question 30

Practice objective / multiple choice question 30 from the 2018 Post Utme Aaua Accounting examination.

Post Utme Aaua 2018 Accounting Objective / Multiple Choice
Question 30 POST_UTME_AAUA • 2018 • ACCOUNTING • objective

A company's balance sheet as at 31st December, 2022 is as follows: ₦ 10,000,000 ₦ 20,000,000 ₦ 30,000,000 ₦ 40,000,000 ₦ 50,000,000 ₦ 10,000,000 ₦ 20,000,000 ₦ 30,000,000 ₦ 40,000,000 ₦ 50,000,000 Identify the error in the balance sheet.

Answer Options

A. The assets are overvalued by ₦10,000,000
B. The liabilities are undervalued by ₦10,000,000
Correct Answer C. The assets are undervalued by ₦10,000,000
D. The liabilities are overvalued by ₦10,000,000
Correct Answer
C
Correct Option:
The assets are undervalued by ₦10,000,000

About This Question

This is Post Utme Aaua 2018 Accounting Question 30. It is one of the objective questions from the 2018 Post Utme Aaua Accounting examination.

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