Post Utme Skyline University 2025 Accounting Question 3

Practice objective / multiple choice question 3 from the 2025 Post Utme Skyline University Accounting examination.

Post Utme Skyline University 2025 Accounting Objective / Multiple Choice
Question 3 POST_UTME_SKYLINE_UNIVERSITY • 2025 • ACCOUNTING • objective

A company prepares its trial balance. The company's trial balance shows a discrepancy of ₦5,000 between the debit and credit balances. What is the correct procedure to follow to resolve this discrepancy?

Answer Options

Correct Answer A. Prepare a suspense account to record the discrepancy
B. Reconcile the trial balance by adjusting the accounts
C. Ignore the discrepancy and proceed with the preparation of the final accounts
D. Recompute the trial balance from the ledger accounts
Correct Answer
A
Correct Option:
Prepare a suspense account to record the discrepancy

About This Question

This is Post Utme Skyline University 2025 Accounting Question 3. It is one of the objective questions from the 2025 Post Utme Skyline University Accounting examination.

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