Post Utme Elizade University 2022 Accounting Question 17

Practice objective / multiple choice question 17 from the 2022 Post Utme Elizade University Accounting examination.

Post Utme Elizade University 2022 Accounting Objective / Multiple Choice
Question 17 POST_UTME_ELIZADE_UNIVERSITY • 2022 • ACCOUNTING • objective

A company prepares its trial balance on December 31, 2022. The trial balance shows a debit balance in the accounts payable account of ₦50,000. The company's ledger shows a credit balance in the accounts payable account of ₦30,000. What is the reason for the difference?

Answer Options

A. The company has a bank overdraft.
Correct Answer B. The company has a cash credit balance.
C. The company has a bank overdraft and a cash credit balance.
D. The company has a cash debit balance.
Correct Answer
B
Correct Option:
The company has a cash credit balance.

About This Question

This is Post Utme Elizade University 2022 Accounting Question 17. It is one of the objective questions from the 2022 Post Utme Elizade University Accounting examination.

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