Post Utme Elizade University 2018 Accounting Question 1

Practice objective / multiple choice question 1 from the 2018 Post Utme Elizade University Accounting examination.

Post Utme Elizade University 2018 Accounting Objective / Multiple Choice
Question 1 POST_UTME_ELIZADE_UNIVERSITY • 2018 • ACCOUNTING • objective

A company's trading account shows a profit of ₦1,500,000. However, the company's profit and loss account shows a loss of ₦800,000. What is the reason for the discrepancy?

Answer Options

A. The company has a non-trading income.
B. The company has a non-trading expense.
Correct Answer C. The company has a trading loss.
D. The company has a non-trading asset.
Correct Answer
C
Correct Option:
The company has a trading loss.

About This Question

This is Post Utme Elizade University 2018 Accounting Question 1. It is one of the objective questions from the 2018 Post Utme Elizade University Accounting examination.

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