Post Utme Christopher University 2019 Accounting Question 19

Practice objective / multiple choice question 19 from the 2019 Post Utme Christopher University Accounting examination.

Post Utme Christopher University 2019 Accounting Objective / Multiple Choice
Question 19 POST_UTME_CHRISTOPHER_UNIVERSITY • 2019 • ACCOUNTING • objective

A company's trading account shows a profit of ₦50,000. The company's profit and loss account shows a net profit of ₦60,000. What is the reason for the discrepancy?

Answer Options

A. The company has made an error in its trading account.
Correct Answer B. The company has made an error in its profit and loss account.
C. The company has made an error in its balance sheet.
D. The company's profit and loss account is not up-to-date.
Correct Answer
B
Correct Option:
The company has made an error in its profit and loss account.

About This Question

This is Post Utme Christopher University 2019 Accounting Question 19. It is one of the objective questions from the 2019 Post Utme Christopher University Accounting examination.

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