Post Utme Babcock University 2017 Accounting Question 17

Practice objective / multiple choice question 17 from the 2017 Post Utme Babcock University Accounting examination.

Post Utme Babcock University 2017 Accounting Objective / Multiple Choice
Question 17 POST_UTME_BABCOCK_UNIVERSITY • 2017 • ACCOUNTING • objective

A company prepares a trading account, profit and loss account, and balance sheet. The trading account shows a profit of ₦10,000, while the profit and loss account shows a profit of ₦15,000. 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 trading account and profit and loss 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 trading account and profit and loss account.

About This Question

This is Post Utme Babcock University 2017 Accounting Question 17. It is one of the objective questions from the 2017 Post Utme Babcock University Accounting examination.

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