Post Utme Babcock University 2017 Accounting Question 15

Practice objective / multiple choice question 15 from the 2017 Post Utme Babcock University Accounting examination.

Post Utme Babcock University 2017 Accounting Objective / Multiple Choice
Question 15 POST_UTME_BABCOCK_UNIVERSITY • 2017 • ACCOUNTING • objective

A company prepares a trading account, profit and loss account, and balance sheet. The balance sheet shows a total assets of ₦50,000, while the trading account shows a total assets of ₦40,000. What is the correct explanation for the discrepancy?

Answer Options

A. The company has made an error in recording a transaction.
Correct Answer B. The company has made an error in reconciling the balance sheet and trading account.
C. The company has made an error in recording a deposit.
D. The company has made an error in recording a withdrawal.
Correct Answer
B
Correct Option:
The company has made an error in reconciling the balance sheet and trading account.

About This Question

This is Post Utme Babcock University 2017 Accounting Question 15. It is one of the objective questions from the 2017 Post Utme Babcock University Accounting examination.

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