Post Utme Osustech 2018 Accounting Question 24

Practice objective / multiple choice question 24 from the 2018 Post Utme Osustech Accounting examination.

Post Utme Osustech 2018 Accounting Objective / Multiple Choice

Question 24 POST_UTME_OSUSTECH • 2018 • ACCOUNTING • objective

A company's trial balance shows a debit balance of ₦50,000. However, the balance sheet shows a credit balance of ₦60,000. What is the correct explanation for this discrepancy?

Answer Options

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

B. The company has an error in its balance sheet.

C. The company has an outstanding cheque.

D. The company has deposited cash into the bank but has not yet been credited.

Correct Answer

Correct Option:

The company has an error in its trial balance.

About This Question

This is Post Utme Osustech 2018 Accounting Question 24. It is one of the objective questions from the 2018 Post Utme Osustech Accounting examination.

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