Post Utme Ksu 2022 Accounting Question 29

Practice objective / multiple choice question 29 from the 2022 Post Utme Ksu Accounting examination.

Post Utme Ksu 2022 Accounting Objective / Multiple Choice
Question 29 POST_UTME_KSU • 2022 • ACCOUNTING • objective

A company uses the self-balancing ledger system to record its transactions. The company's ledger shows a credit balance of ₦40,000 in the account 'Accrued Revenue'. What is the likely reason for this credit balance?

Answer Options

A. The company has received cash from its customers in advance.
B. The company has not recorded a corresponding debit entry for the accrued revenue.
Correct Answer C. The company has recorded the accrued revenue as a credit entry.
D. The company has not recorded a corresponding credit entry for the accrued revenue.
Correct Answer
C
Correct Option:
The company has recorded the accrued revenue as a credit entry.

About This Question

This is Post Utme Ksu 2022 Accounting Question 29. It is one of the objective questions from the 2022 Post Utme Ksu Accounting examination.

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