Post Utme Futa 2020 Accounting Question 9

Practice objective / multiple choice question 9 from the 2020 Post Utme Futa Accounting examination.

Post Utme Futa 2020 Accounting Objective / Multiple Choice
Question 9 POST_UTME_FUTA • 2020 • ACCOUNTING • objective

A company's trial balance shows a discrepancy of ₠ 1,000. What is the accounting treatment for the discrepancy?

Answer Options

Correct Answer A. The discrepancy is written off as an expense.
B. The discrepancy is transferred to the partner's capital account.
C. The discrepancy is transferred to the partner's current account.
D. The discrepancy is transferred to the partner's drawings account.
Correct Answer
A
Correct Option:
The discrepancy is written off as an expense.

About This Question

This is Post Utme Futa 2020 Accounting Question 9. It is one of the objective questions from the 2020 Post Utme Futa Accounting examination.

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