Post Utme Joseph Ayo Babalola University 2022 Accounting Question 10

Practice objective / multiple choice question 10 from the 2022 Post Utme Joseph Ayo Babalola University Accounting examination.

Post Utme Joseph Ayo Babalola University 2022 Accounting Objective / Multiple Choice
Question 10 POST_UTME_JOSEPH_AYO_BABALOLA_UNIVERSITY • 2022 • ACCOUNTING • objective

A company uses the single entry method to record its transactions. The company's single entry ledger shows a balance of ₦120,000. However, the company's trial balance shows a balance of ₦100,000 for the same account. What is the most likely explanation for the discrepancy?

Answer Options

Correct Answer A. The company has not yet recorded a payment.
B. The company has incorrectly recorded a payment.
C. The company has incorrectly recorded a sale.
D. The company has not yet recorded a sale.
Correct Answer
A
Correct Option:
The company has not yet recorded a payment.

About This Question

This is Post Utme Joseph Ayo Babalola University 2022 Accounting Question 10. It is one of the objective questions from the 2022 Post Utme Joseph Ayo Babalola University Accounting examination.

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