Post Utme Rhema University 2021 Accounting Question 17

Practice objective / multiple choice question 17 from the 2021 Post Utme Rhema University Accounting examination.

Post Utme Rhema University 2021 Accounting Objective / Multiple Choice
Question 17 POST_UTME_RHEMA_UNIVERSITY • 2021 • ACCOUNTING • objective

A company prepares a trial balance but discovers that the total debit balance is ₦50,000 more than the total credit balance. What is the reason for this discrepancy?

Answer Options

Correct Answer A. There is an error in the preparation of the trial balance.
B. There is an error in the posting of transactions to the ledger accounts.
C. There is an error in the calculation of the total debit and credit balances.
D. The company has not recorded all its financial transactions.
Correct Answer
A
Correct Option:
There is an error in the preparation of the trial balance.

About This Question

This is Post Utme Rhema University 2021 Accounting Question 17. It is one of the objective questions from the 2021 Post Utme Rhema University Accounting examination.

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