Post Utme Ksu 2022 Accounting Question 28

Practice objective / multiple choice question 28 from the 2022 Post Utme Ksu Accounting examination.

Post Utme Ksu 2022 Accounting Objective / Multiple Choice

Question 28 POST_UTME_KSU • 2022 • ACCOUNTING • objective

A company uses the double-entry system to record its transactions. The company's ledger shows a debit balance of ₦30,000 in the account 'Depreciation Expense'. What is the likely reason for this debit balance?

A. The company has recorded the depreciation expense as a credit entry.

B. The company has not recorded a corresponding credit entry for the depreciation expense.

Correct Answer C. The company has recorded the depreciation expense as a debit entry.

D. The company has not recorded a corresponding debit entry for the depreciation expense.

Correct Answer

Correct Option:

The company has recorded the depreciation expense as a debit entry.

This is Post Utme Ksu 2022 Accounting Question 28. It is one of the objective questions from the 2022 Post Utme Ksu Accounting examination.

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