Post Utme Covenant University 2019 Accounting Question 24

Practice objective / multiple choice question 24 from the 2019 Post Utme Covenant University Accounting examination.

Post Utme Covenant University 2019 Accounting Objective / Multiple Choice
Question 24 POST_UTME_COVENANT_UNIVERSITY • 2019 • ACCOUNTING • objective

A company's trial balance as at December 31, 2022, shows a debit balance of ₦200,000 and a credit balance of ₦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 24. It is one of the objective questions from the 2019 Post Utme Covenant University Accounting examination.

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