Post Utme Joseph Ayo Babalola University 2020 Accounting Question 16

Practice objective / multiple choice question 16 from the 2020 Post Utme Joseph Ayo Babalola University Accounting examination.

Post Utme Joseph Ayo Babalola University 2020 Accounting Objective / Multiple Choice
Question 16 POST_UTME_JOSEPH_AYO_BABALOLA_UNIVERSITY • 2020 • ACCOUNTING • objective

A company's trial balance shows a discrepancy of ₦5,000 between the debit and credit sides. The accountant suspects that the discrepancy is due to an error in the journal entries. Which of the following steps should the accountant take to correct the error?

Answer Options

Correct Answer A. Reconcile the trial balance by investigating the journal entries
B. Recompute the trial balance from the ledger accounts
C. Adjust the trial balance by adding the discrepancy to the debit or credit side
D. Reopen the accounting period to correct the error
Correct Answer
A
Correct Option:
Reconcile the trial balance by investigating the journal entries

About This Question

This is Post Utme Joseph Ayo Babalola University 2020 Accounting Question 16. It is one of the objective questions from the 2020 Post Utme Joseph Ayo Babalola University Accounting examination.

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