Post Utme Lead City University 2021 Accounting Question 25

Practice objective / multiple choice question 25 from the 2021 Post Utme Lead City University Accounting examination.

Post Utme Lead City University 2021 Accounting Objective / Multiple Choice
Question 25 POST_UTME_LEAD_CITY_UNIVERSITY • 2021 • ACCOUNTING • objective

A company's balance sheet shows a total asset value of ₦1,500,000. However, the company's accounting records show a total asset value of ₦1,800,000. What is the likely reason for the discrepancy?

Answer Options

A. The company has not recorded a depreciation expense.
B. The company has not recorded a gain on the sale of assets.
Correct Answer C. The company's balance sheet is not up-to-date.
D. The company's accounting records are not accurate.
Correct Answer
C
Correct Option:
The company's balance sheet is not up-to-date.

About This Question

This is Post Utme Lead City University 2021 Accounting Question 25. It is one of the objective questions from the 2021 Post Utme Lead City University Accounting examination.

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