Post Utme Ksu 2022 Accounting Question 26

Practice objective / multiple choice question 26 from the 2022 Post Utme Ksu Accounting examination.

Post Utme Ksu 2022 Accounting Objective / Multiple Choice
Question 26 POST_UTME_KSU • 2022 • ACCOUNTING • objective

A company uses the double-entry system to record its transactions. The company's trial balance shows a credit balance of ₦50,000 in the account 'Accrued Expenses'. What is the likely reason for this credit balance?

Answer Options

A. The company has paid its suppliers in advance.
Correct Answer B. The company has not recorded a corresponding debit entry for the accrued expenses.
C. The company has received a refund from its suppliers.
D. The company has not recorded a corresponding credit entry for the accrued expenses.
Correct Answer
B
Correct Option:
The company has not recorded a corresponding debit entry for the accrued expenses.

About This Question

This is Post Utme Ksu 2022 Accounting Question 26. It is one of the objective questions from the 2022 Post Utme Ksu Accounting examination.

View More Post Utme Ksu 2022 Accounting Questions More Post Utme Ksu 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