Post Utme Bells University 2024 Accounting Question 25

Practice objective / multiple choice question 25 from the 2024 Post Utme Bells University Accounting examination.

Post Utme Bells University 2024 Accounting Objective / Multiple Choice
Question 25 POST_UTME_BELLS_UNIVERSITY • 2024 • ACCOUNTING • objective

A company's balance sheet shows a total asset value of ₦100,000,000. However, the company's profit and loss account shows a total equity value of ₦80,000,000. What is the likely cause of this discrepancy?

Answer Options

Correct Answer A. The company's balance sheet 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 balance sheet was not properly audited.
Correct Answer
A
Correct Option:
The company's balance sheet was not properly reconciled with the profit and loss account.

About This Question

This is Post Utme Bells University 2024 Accounting Question 25. It is one of the objective questions from the 2024 Post Utme Bells University Accounting examination.

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