Post Utme Covenant University 2019 Accounting Question 21

Practice objective / multiple choice question 21 from the 2019 Post Utme Covenant University Accounting examination.

Post Utme Covenant University 2019 Accounting Objective / Multiple Choice
Question 21 POST_UTME_COVENANT_UNIVERSITY • 2019 • ACCOUNTING • objective

A company prepares a trial balance on December 31, 2022. The total debit balance is ₦250,000 and the total credit balance is ₦300,000. What is the reason for the discrepancy?

Answer Options

A. The company has made a profit.
B. The company has made a loss.
Correct Answer C. The company has a discrepancy in its trial balance.
D. The company has not recorded all its transactions.
Correct Answer
C
Correct Option:
The company has a discrepancy in its trial balance.

About This Question

This is Post Utme Covenant University 2019 Accounting Question 21. It is one of the objective questions from the 2019 Post Utme Covenant University Accounting examination.

View More Post Utme Covenant University 2019 Accounting Questions More Post Utme Covenant University Practice Questions Back to Questions

Master the Exam!

You've seen a preview, but there are thousands more questions plus AI tutor to break down complex solutions.

Unlock Full Access Available for Android & Windows
Chat with Support