Post Utme Igbinedion University 2024 Accounting Question 5

Practice objective / multiple choice question 5 from the 2024 Post Utme Igbinedion University Accounting examination.

Post Utme Igbinedion University 2024 Accounting Objective / Multiple Choice
Question 5 POST_UTME_IGBINEDION_UNIVERSITY • 2024 • ACCOUNTING • objective

A company has a self-balancing ledger account for its accounts payable. If the balance in the ledger account is ₦50,000 and the balance in the control account is ₦60,000, what is the reason for the difference?

Answer Options

A. The ledger account is not up-to-date
Correct Answer B. The control account has a debit balance
C. The ledger account has a credit balance
D. The control account has a credit balance
Correct Answer
B
Correct Option:
The control account has a debit balance

About This Question

This is Post Utme Igbinedion University 2024 Accounting Question 5. It is one of the objective questions from the 2024 Post Utme Igbinedion University Accounting examination.

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