Post Utme Nile University 2021 Accounting Question 34

Practice objective / multiple choice question 34 from the 2021 Post Utme Nile University Accounting examination.

Post Utme Nile University 2021 Accounting Objective / Multiple Choice

Question 34 POST_UTME_NILE_UNIVERSITY • 2021 • ACCOUNTING • objective

A company's balance sheet shows a total asset value of ₦500,000. However, the company's profit and loss account shows a profit of ₦100,000. What is the reason for the discrepancy?

Answer Options

Correct Answer A. The company has made an error in its balance sheet

B. The company has made an error in its profit and loss account

C. The company has made an error in its trading account

D. The company has made an error in its cash book

Correct Answer

Correct Option:

The company has made an error in its balance sheet

About This Question

This is Post Utme Nile University 2021 Accounting Question 34. It is one of the objective questions from the 2021 Post Utme Nile University Accounting examination.

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