Post Utme Bells University 2024 Accounting Question 24

Practice objective / multiple choice question 24 from the 2024 Post Utme Bells University Accounting examination.

Post Utme Bells University 2024 Accounting Objective / Multiple Choice
Question 24 POST_UTME_BELLS_UNIVERSITY • 2024 • ACCOUNTING • objective

A company's trading account shows a profit of ₦50,000. However, the company's profit and loss account shows a loss of ₦20,000. What is the likely cause of this discrepancy?

Answer Options

Correct Answer A. The company's trading account was not properly reconciled with the profit and loss account.
B. The company's accounting software malfunctioned.
C. The company's profit and loss account was not properly updated.
D. The company's trading account was not properly audited.
Correct Answer
A
Correct Option:
The company's trading account was not properly reconciled with the profit and loss account.

About This Question

This is Post Utme Bells University 2024 Accounting Question 24. It is one of the objective questions from the 2024 Post Utme Bells University Accounting examination.

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