Post Utme Bsu 2017 Accounting Question 11

Practice objective / multiple choice question 11 from the 2017 Post Utme Bsu Accounting examination.

Post Utme Bsu 2017 Accounting Objective / Multiple Choice
Question 11 POST_UTME_BSU • 2017 • ACCOUNTING • objective

A company's trial balance shows a credit balance in the accounts payable account of ₦12,000. However, the company's balance sheet shows a debit balance of ₦8,000 in the same account. What is the correct explanation for this discrepancy?

Answer Options

A. The company has not recorded the payment of accounts payable.
B. The company has recorded the payment of accounts payable but has not updated the accounts payable account.
C. The company has incorrectly recorded the accounts payable account as a debit instead of a credit.
Correct Answer D. The company has incorrectly recorded the accounts payable account as a credit instead of a debit.
Correct Answer
D
Correct Option:
The company has incorrectly recorded the accounts payable account as a credit instead of a debit.

About This Question

This is Post Utme Bsu 2017 Accounting Question 11. It is one of the objective questions from the 2017 Post Utme Bsu Accounting examination.

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