Post Utme Aaua 2022 Accounting Question 39

Practice objective / multiple choice question 39 from the 2022 Post Utme Aaua Accounting examination.

Post Utme Aaua 2022 Accounting Objective / Multiple Choice
Question 39 POST_UTME_AAUA • 2022 • ACCOUNTING • objective

A company's balance sheet as at December 31, 2022, is as follows: | Account | Debit | Credit | | --- | --- | --- | | Cash | ₦100,000 | ₦0 | | Accounts Payable | ₦0 | ₦50,000 | | Share Capital | ₦200,000 | ₦0 | | Retained Earnings | ₦50,000 | ₦0 | | Total | ₦350,000 | ₦150,000 | Identify the error in the balance sheet.

Answer Options

Correct Answer A. The debit and credit columns are not balanced.
B. The share capital is not correctly recorded.
C. The retained earnings is not correctly recorded.
D. The accounts payable is not correctly recorded.
Correct Answer
A
Correct Option:
The debit and credit columns are not balanced.

About This Question

This is Post Utme Aaua 2022 Accounting Question 39. It is one of the objective questions from the 2022 Post Utme Aaua Accounting examination.

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