Post Utme Babcock University 2017 Accounting Question 13

Practice objective / multiple choice question 13 from the 2017 Post Utme Babcock University Accounting examination.

Post Utme Babcock University 2017 Accounting Objective / Multiple Choice
Question 13 POST_UTME_BABCOCK_UNIVERSITY • 2017 • ACCOUNTING • objective

A partnership has two partners, A and B. The partnership's capital account shows a balance of ₦20,000, while the partner's capital account shows a balance of ₦15,000. What is the correct explanation for the discrepancy?

Answer Options

A. Partner A has made an error in recording a transaction.
B. Partner B has made an error in recording a transaction.
Correct Answer C. The partnership has made an error in reconciling the capital account and partner's capital account.
D. The partnership has made an error in recording a deposit.
Correct Answer
C
Correct Option:
The partnership has made an error in reconciling the capital account and partner's capital account.

About This Question

This is Post Utme Babcock University 2017 Accounting Question 13. It is one of the objective questions from the 2017 Post Utme Babcock University Accounting examination.

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