Post Utme Lead City University 2023 Accounting Question 39

Practice objective / multiple choice question 39 from the 2023 Post Utme Lead City University Accounting examination.

Post Utme Lead City University 2023 Accounting Objective / Multiple Choice
Question 39 POST_UTME_LEAD_CITY_UNIVERSITY • 2023 • ACCOUNTING • objective

A company's trading account shows a profit of ₦100,000. However, the company's profit and loss account shows a loss of ₦50,000. What is the correct explanation for the discrepancy?

Answer Options

A. The company has an error in its trading account.
Correct Answer B. The company has an error in its profit and loss account.
C. The company has an error in its balance sheet.
D. The company has an error in its cash book.
Correct Answer
B
Correct Option:
The company has an error in its profit and loss account.

About This Question

This is Post Utme Lead City University 2023 Accounting Question 39. It is one of the objective questions from the 2023 Post Utme Lead City University Accounting examination.

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