Post Utme Futa 2018 Accounting Question 3

Practice objective / multiple choice question 3 from the 2018 Post Utme Futa Accounting examination.

Post Utme Futa 2018 Accounting Objective / Multiple Choice
Question 3 POST_UTME_FUTA • 2018 • ACCOUNTING • objective

A company's trading account shows a profit of ₦200,000. However, the profit and loss account shows a loss of ₦50,000. What is the reason for this discrepancy?

Answer Options

A. The company has not recorded a sale of ₦250,000.
B. The company has not recorded a purchase of ₦250,000.
C. The company has not recorded a depreciation charge of ₦250,000.
Correct Answer D. The company has not recorded a provision for bad debts of ₦250,000.
Correct Answer
D
Correct Option:
The company has not recorded a provision for bad debts of ₦250,000.

About This Question

This is Post Utme Futa 2018 Accounting Question 3. It is one of the objective questions from the 2018 Post Utme Futa Accounting examination.

View More Post Utme Futa 2018 Accounting Questions More Post Utme Futa 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