Post Utme Elizade University 2022 Accounting Question 20

Practice objective / multiple choice question 20 from the 2022 Post Utme Elizade University Accounting examination.

Post Utme Elizade University 2022 Accounting Objective / Multiple Choice
Question 20 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 receivable account of ₦100,000. The company's ledger shows a credit balance in the accounts receivable account of ₦80,000. What is the reason for the difference?

Answer Options

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

About This Question

This is Post Utme Elizade University 2022 Accounting Question 20. It is one of the objective questions from the 2022 Post Utme Elizade University Accounting examination.

View More Post Utme Elizade University 2022 Accounting Questions More Post Utme Elizade 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