Post Utme Ksu 2024 Accounting Question 21

Practice objective / multiple choice question 21 from the 2024 Post Utme Ksu Accounting examination.

Post Utme Ksu 2024 Accounting Objective / Multiple Choice
Question 21 POST_UTME_KSU • 2024 • ACCOUNTING • objective

A company's accounting records are incomplete due to a fire that destroyed its office. The company's accountant has managed to salvage some records, but they are not in a usable format. What is the first step the accountant should take to rectify the situation?

Answer Options

A. Reconstruct the records from memory
B. Hire a forensic accountant to investigate the fire
C. Contact the insurance company to claim compensation for the lost records
Correct Answer D. Use the salvaged records to prepare a preliminary balance sheet
Correct Answer
D
Correct Option:
Use the salvaged records to prepare a preliminary balance sheet

About This Question

This is Post Utme Ksu 2024 Accounting Question 21. It is one of the objective questions from the 2024 Post Utme Ksu Accounting examination.

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